Platinum price confirmed its surrender to the dominance of the sideways track by its stability below $1342.00 barrier, to repeat its tight fluctuation between the current barrier and the extra support level near $1302.00.
We recommend monitoring the price behavior and waiting for surpassing one of the main levels, to detect the expected trend in the near and medium period trading, so breaching the barrier will reinforce the chances of recording some gains by its rally to $1375.00 and $1430.00, while breaking the support will force it to suffer extra losses by reaching $1255.00.
The expected trading range for today is between $1300.00 and $1342.00
Trend forecast: Sideways
Copper price didn’t move anything, to keep providing slow sideways trading by its fluctuation near $4.4500, affected by the continuation of the main indicators’ contradiction, due to the stability of stochastic within the oversold level, to reduce the chances for renewing the suggested bullish attempts.
The stability above the extra support at $4.2600 assists to confirm the price confinement within the bullish track, to keep waiting for gathering the required positive momentum for reaching the positive stations near $4.6200 and $4.7400.
The expected trading range for today is between $4.330 and $4.6300
Trend forecast: Bullish
The (ETHUSD) price declined in its last intraday trading, after its success in its previous trading in offloading its clear oversold conditions on the (RSI), opening the way for recording more of the losses, amid the continuation of the negative pressure that comes from its trading below EMA50, and under the dominance of bearish correctional wave on the short-term basis and its trading alongside a supportive bias line for this track on the near-term basis.
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The (Brent) price declined in its last trading on the intraday levels, due to the stability of the critical resistance level at $66.00, accompanied by its reach to the resistance of the EMA50, intensifying the negative pressure on the price and led to this decline. The negative overlapping signals appear on the (RSI), after reaching overbought levels that reinforce the chances for expanding the decline on the short-term basis.
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