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
Ethereum (ETHUSD) posted a slight intraday rebound in recent trading sessions, but remains under persistent bearish pressure as it continues to trade below EMA50, reinforcing the dominance of the short-term downtrend and limiting any meaningful recovery attempts.
Relative strength indicators have also returned to generating negative signals after previously easing oversold conditions, suggesting renewed downside momentum and weakening bullish strength in the near term.