Platinum price formed a new bearish attack with the beginning of today’s trading, to approach from the targeted obstacle near $2010.00, which forced it to form bullish corrective rebound, to settle near $2100.00.
The bullish corrective rebound will not threaten the main bearish trend, depending on the main stability below $2210.00, besides the continuation of providing negative momentum by the main indicators, therefore, we will keep the bearish attempts in the current period, which might target 2040.00 and 2010.00 level.
The expected trading range for today is between $2010.00 and $2150.00
Trend forecast: Bearish
Thanks for your feedback.
Copper price opened today’s trading with clear negativity, forming new negative price gap, achieving $5.5600 level to confirm the previously suggested bearish corrective scenario.
MoreEthereum price (ETHUSD) is witnessing volatile trading during its latest intraday levels, after previously breaking out of an upward corrective price channel that contained its movements in the short term. Negative and dynamic pressure continues as the price trades below EMA50, which reduces the chances of a near-term recovery, especially with the emergence of negative signals from the relative strength indicators after the price managed to relieve its previous oversold condition.
MoreThe (Brent) price extended its strong gains in the beginning of this week trading as appears in the above daily chart, amid the dominance of the main bullish trend on short-term basis, with the continuation of the dynamic pressure that is represented by its trading above EMA50, besides the emergence of positive signals from relative strength indicators after offloading its overbought conditions previously, opening the way for expanding its gains on the intraday basis.
More