Platinum price remains affected by conflicting main indicators, forcing it to postpone negative attempts and deliver weak trading, stabilizing from yesterday near the $1800.00 level. We expect that with the barrier at $1865.00 remaining intact and the Stochastic indicator approaching the overbought level, the price will begin activating negative attempts, targeting the $1695.00 level soon, followed by the stable obstacle at $1640.00.

The risk of a trend reversal and the formation of a new path remains possible if the price successfully breaks the resistance extending toward $1925.00 and holds above it. This would enable it to achieve noticeable gains by advancing first toward $1990.00 and $2060.00 respectively.

The expected trading range for today is between $1700.00 and $1840.00.

Trend forecast: Bearish

Copper price has continued to show mixed sideways trading, affected by its position below the stable resistance at $6.6000, which is limiting the chances of resuming bullish attempts, with repeated fluctuations forming near the $6.4500 level.

We expect that the Stochastic indicator’s attempt to provide negative momentum may lead the price to start forming downward corrective waves, through which it may pressure the $6.2500 level and then attempt to reach the additional support level at $6.1000.

The expected trading range for today is between $5.2500 and $6.6000

Trend forecast: Bearish 

(ETHUSD) is maintaining its previous gains during its latest intraday trading, as it attempts to build positive momentum that could help it break above the key resistance level at $1,800. The pair remains under the influence of a short-term corrective uptrend, moving along an ascending trendline that supports this path.

The price also continues to receive dynamic support from trading above its EMA50, which strengthens the chances of recovery in the near term, especially with positive signals beginning to emerge from relative strength indicators after the price successfully eased its previous overbought conditions.

Brent crude oil is maintaining a series of consecutive losses during its recent intraday trading, with the price reaching the support level at $79.00, which was the latest price target identified in our previous analyses. This comes amid continued negative pressure resulting from trading below its EMA50, reinforcing the stability and dominance of the primary short-term downtrend.

On the other hand, relative strength indicators are beginning to show a positive crossover after reaching deeply oversold levels, which may temporarily limit further losses in the near term.