Copper price didn’t move anything since yesterday by its fluctuation near the initial support at $5.9700, due to the contradiction of the main indicators, by providing negative momentum by stochastic, which settles below 50 level.

The sideways trading might continue, reminding you that the negative pressure might force it to form some bearish corrective trading, attempting to reach $5.8200, while activating the bullish trend requires a new bullish momentum to push the price to settle above $6.1200, to begin activating new positive stations that might extend in the initial period at 6.2500.

The expected trading range for today is between $5.8200 and $6.100

Trend forecast: Fluctuated within the bullish trend

Ethereum (ETHUSD) surged during its latest intraday trading, supported by a dominant short-term bullish trend and price movement along an upward supportive trend line. The recent rise allowed the price to break above EMA50, helping it escape previous negative pressure and strengthening the potential for further gains in the near term.

At the same time, the relative strength indicators are showing renewed positive momentum after the price successfully offloaded its overbought condition, which opens the way for rising.

Brent crude oil declined slightly during its latest intraday trading, to gather the gains of its previous gains, attempting to gain bullish momentum that might help it to resume its gains again, and it attempts to offload some of the overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals, affected by breaching bearish corrective trend line on short-term basis, with a positive support due to its trading above EMA50.

The USDCHF pair declined during its recent intraday trading, as it is currently preparing to break the key support level at 0.7790. This comes amid the dominance of a short-term bearish corrective trend, with continued negative pressure due to trading below its EMA50, which limits the chances of a full recovery in the near term.

Additionally, a bearish crossover started to appear on the relative strength indicators after the pair managed to relieve its oversold conditions, supporting the downside outlook.