Despite the weakness of Platinum price last trading, its stability above the support at $1320.00, forming extra support by the moving average 55 at $1340.00, these factors make us keep the previously suggested scenario.
Providing bullish momentum by stochastic will increase the chances of surpassing the obstacle at $1355.00 level, to open the way for recording big losses that might begin at $13565.00 and $1383.00.
The expected trading range for today is between $1340.00 and $1383.00
Trend forecast: Bullish
Copper price faced stochastic negativity by its stability above the extra support at $4.2600, keeping the chances for renewing the bullish attempts, while gathering the bullish momentum makes us expect targeting $4.6200, pressing on the barrier near $4.7500 to find an exit to resume the bullish attempts.
While the risk of changing the main trend is represented by forming a sharp decline, to settle below the support of the bullish channel towards $4.0750, which forces it to suffer several losses by reaching $3.9200 initially.
The expected trading range for today is between $4.3000 and $4.6200
Trend forecast: Bullish
The (ETHUSD) price rose in its last trading on the intraday levels, due to its lean on the support of EMA50, gaining some positive momentum that helped it to stop the losses bleeding that came due to the stability of the current resistance at $4,575, supported by the emergence of the negative signals on the (RSI), after reaching overbought level, to succeed in offloading this oversold condition, amid the dominance of the main bullish trend and its trading alongside a bias line on the short-term basis.
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The (Brent) price declined on its last intraday levels, gathering the gains of its yesterday’s rise after the stability of the critical support level at $66.65, and its lean on the support of its EMA50, amid the dominance of the bullish correctional trend on the short-term basis, and its trading alongside a supportive bias line for this trend, and attempting to offload some of its clear overbought conditions on the (RSI), especially with the emergence of negative overlapping signals, gathering its positive strength that might assist it to rise again.
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