Platinum price touched the 2097.00 level during yesterday’s trading before declining again below the key resistance at 2075.00$, leading to mixed trading as it currently fluctuates around $2055.00.

We reiterate that if the price manages to hold above the additional support level at 1950.00$, and as long as the main indicators continue to show positive momentum, this would keep us expecting confirmation of a breakout above the current resistance. This could strengthen the chances of achieving new gains starting at 2125.00$ and then 2190.00$ respectively.

The expected trading range for today is between $2000.00 and $2125.00

Trend forecast: Bullish

Copper price provided a new positive close above $5.9700 level, reinforcing the efficiency of the bullish trend, recording clear gains by reaching $6.2100, approaching the second suggested target in the previous report.

The price gets positive momentum by stochastic, which attempts to settle within the overbought level, increasing the chances of surpassing $6.2600 level, to expect its rally towards $6.3800 resistance in the near period. 

The expected trading range for today is between $6.0400 and$6.3800

Trend forecast: Bullish

Ethereum (ETHUSD) continued to decline during its recent intraday trading, under pressure from sustained movement below EMA50. This reflects the dominance of a strong short-term downward corrective wave, which continues to weigh on price action.

At the same time, the relative strength indicators are showing negative signals after briefly easing some of their oversold conditions, which opens the door for additional downside pressure in the near term.

Brent crude oil declined during its recent intraday trading after holding firm below the current resistance level at $101.30. This comes amid a sharply descending short-term wave dominating price action, with continued negative pressure from trading below EMA50, which limits the chances of a full recovery in the near term.

Additionally, the relative strength indicators have reached heavily overbought levels compared to price movement, with early signs of a negative crossover, reinforcing the weakening bullish momentum.