The pair confirmed its commitment to the upward trend by posting repeated positive closes above the key support level at 184.25. Positive signals from the major indicators have also begun to influence price action, allowing the pair to stabilize around 185.50.
The price is expected to continue its bullish movement and attempt to test the resistance level at 186.00. If a breakout above this resistance is achieved, the pair could record further gains, advancing toward 186.65 and potentially reaching 187.35.
The expected trading range for today is between 184.70 and 186.00
Trend forecast: Bullish
Despite the weakness in the pair's trading, its repeated stability above the additional support level at 213.50, combined with the Stochastics’ attempt to provide positive momentum, has led to the formation of some bullish waves, helping the pair maintain its position around 214.80.
We reiterate the importance of a breakout above the resistance level at 215.50, as this would allow the pair to form strong upward waves. In that case, the price is expected to be attracted initially toward 216.10 and then 216.65.
The expected trading range for today is between 214 and 216
Trend forecast: Bullish
Platinum continued to form negative trading behavior, affected by its repeated positioning below the resistance level around $1865.00, surrendering to the negative pressure of the main indicators to reach the first additional target at $1637.00.
The $1770.00 level attempts to form an extra barrier, besides stochastic stability with the oversold levels might increase the efficiency of the negative trend in the near trading, to expect targeting $1605.00 level, and surpassing it will make the next main target at $1550.00 level.
The expected trading range for today is between 1605.00 and 1700.00
Trend forecast: Bearish
Copper price continued providing negative closes below the resistance at $6.6600 level, forming several corrective waves, approaching the initial support at $6.1000, which represents detecting key for the expected trend in the near and medium trading.
Noticing the continuation of providing negative momentum by stochastic, which makes us wait for breaking the current support, to reinforce the chances of targeting extra corrective stations by reaching $5.9600 and $5.8200.
The expected trading range for today is between $ 5.9600 and $6.3600
Trend forecast: Bearish