Platinum price succeeded to resume the bullish attack yesterday, reaching the last target at $1223.00, facing 2.610% Fibonacci extending level, forming a significant resistance against detecting the main trend in the upcoming trading.
The stability below this resistance and stochastic exit from the overbought level, we expect forming some bearish correctional wave that might target $1180. 00 level reaching extra support at $1162.00, while breaching the resistance and holding above it will reinforce the chances for achieving extra gains that might extend to $1240.00 reaching the main bullish channel’s resistance at $1255.00.
The expected trading range for today is between $1185.00 and $1225.00
Trend forecast: Bearish
No news for copper price by it continues fluctuation below the extra barrier at $4.8900, which obstacles the chances for resuming the bullish attack, to expect the domination of the sideways track in the near period, and there is a chance for forming some correctional waves, to reach $4.7500 reaching 50%Fibonacci correctional level at $4.6600.
While the price success to confirm breaching the mentioned barrier will reinforce the chances for renewing the bullish attempts, to expect reaching $5.0300 reaching the next barrier at $5.1000.
The expected trading range for today is between $4.7500 and $4.8900
Trend forecast: Fluctuated
The (ETHUSD) price settled with a sharp gains in its last intraday trading, preparing to attack the critical resistance level at $2,735, amid its affection by surpassing a bearish correctional channel’s range that limits its previous trading on the short-term basis, supported by its trading above EMA50, on the other hand, we notice the appearance of negative overlapping signals on the (RSI), on the other hand, we notice the beginning of negative overlapping signals on the (RSI), after reaching overbought levels, which might decelerate the price’s upcoming rise.
The (Brent) price kept rising in its last intraday trading, to breach its current resistance level at $66.50, supported by the emergence of the positive signals on the (RSI), despite reaching overbought levels, which decreases the gains in the upcoming trading, amid the dominance of the bullish trend on the short-term basis and its trading alongside a bias line.