Copper prices remain committed to the upward trend while hovering near $4.9300 and maintaining its stability within the ascending channel, as the $4.8100 barrier holds on.

The Stochastic indicator is approaching overbought levels, which could send the price towards the resistance of the ascending channel at $5.00.

Expected range today is between $4.8500 and $5.000.

Trend forecast for today: Bullish

Yesterday, the index experienced a new bearish crawl, achieving the additional bearish target around 102.95, and then had to form some sideways trading as a result of the Stochastic indicator exiting the oversold zone, as is evident in the attached chart.

We note that the continued bearish stability below the 61.8% Fibonacci retracement level at 103.80 compels us to maintain a bearish bias. We expect that once the price gains additional negative momentum, it will continue forming bearish waves, increasing the chances of reaching the next bearish target at 102.55.

The expected trading range for today is between 102.55 and 103.35.

Today's Price Forecast: Bearish

The pair’s price exploited the positive pressure resulting from the formation of the 55-period moving average as a new support, centered around 0.8185, in addition to the positive momentum exhibited by the Stochastic indicator. This allowed the price to surge recently above the stable resistance at 0.8255, marking its transition into an uptrend and recording tangible gains by reaching approximately 0.8330.

We expect the formation of a primary support level at 0.8260 in the current trading session. With the continued presence of key bullish momentum indicators, the price is anticipated to resume its upward drive, targeting 0.8372 soon. If this barrier is breached, 0.8415 will become the next primary target for the bullish move.

The expected trading range for today is between 0.8295 and 0.8372.

Today's Price Forecast: Bullish

Yesterday, the gas price failed to confirm its breakthrough of the stable barrier at $4.180, forcing it to form temporary negative trades by sliding towards $4.000, in order to maintain its overall stability above the support of the ascending channel, currently around $3.950.

We observe that the Stochastic indicator is beginning to show positive momentum by emerging from the oversold level, which gives the price a new opportunity to form upward waves and increases the chances of it surpassing the $4.180 level to reach the positive targets currently set around $4.280 and $4.450, respectively.

The expected trading range for today is between $3.950 and $4.280.

Today's Price Forecast: Bullish with support stability