|
Platinum price hits the initial extra target– Forecast today – 1-8-2025
AI Summary
- Platinum price hits initial extra target at $1270.00 after bearish correctional bias dominance
- Stochastic reaching oversold level may lead to more negative trading, targeting $1252.00 and $1215.00 support levels
- Price rally above $1332.00 could renew bullish attempts and trend for upcoming trading, with expected range between $1252.00 and $1300.00
Platinum price confirmed its surrender to the bearish correctional bias dominance by providing a new negative close below the resistance at $1376.00, forming a new decline and hitting the initial extra target by reaching $1270.00.
Stochastic reach to the oversold level might force the price to provide more of the negative trading, which might target $1252.00 level reaching the base of the next support that is represented by $1215.00 level, while the price rally above $1332.00 might assist renewing the bullish attempts until reaching the mentioned resistance, forming a key for renewing the main trend of the upcoming trading.
The expected trading range for today is between $1252.00 and $1300.00
Trend forecast: Bearish
Thanks for your feedback.
Copper price hits the target– Forecast today – 1-8-2025
Copper price continued to form bearish trading, to reach the target at $4.2600 forming an intraday support against the current trading, despite the main stability within the bullish channel’s levels, the attempt of providing negative momentum from the main indicators that might push the price to press on the current support, while breaking it will extend the losses to $4.1600 reaching the support of the bullish channel at $4.0550.
MoreThe (ETHUSD) is under negative pressure-Analysis- 01-08-2025
The (ETHUSD) price rose slightly in its last intraday trading, in attempt to recover some of its previous losses, and attempts to offload some of its oversold conditions on the (RSI), especially when the positive signals begin to appear, amid the price affection by breaking minor bullish trend line on the short-term basis, and the bearish correctional trading is the dominant, accompanied by surpassing the support of its EMA50, which puts it under intensifying negative pressure on the near-term basis.
MoreBrent crude oil attempts to gain positive momentum- Analysis-01-08-2025
The (Brent) price fluctuated in its last intraday levels, amid its attempts to gain positive momentum that might assist it to recover and rise again, amid its trading alongside a minor bullish trend on the short-term basis, supported by its continuous trading above EMA50, besides the emergence of the positive signals on the (RSI), after reaching oversold levels, increasing the bullish momentum on the near-term basis.
More