Platinum price ended the last corrective decline by its approach from the support level of $1695.00, to begin forming bullish waves, announcing the continuation of the previously suggested bullish scenario, fluctuating near $1780.00 level.
The price might be forced to provide some sideways trading until gathering bullish momentum to surpass the 55-moving average at $1800.00, to begin targeting several positive stations by its rally towards $1860.00 and $1910.00.
The expected trading range for today is between $1730.00 and $1860.00
Trend forecast: Bullish
Copper price managed to resist the temporary negative pressures until this moment, holding above $6.3300 support, forming new bullish wave, to settle near $6.5000.
MoreEthereum (ETHUSD) declined during its latest intraday trading, as the price is currently preparing to break the key support level of $2,350, which would increase the negative pressures surrounding it. This comes amid continued negative pressure resulting from trading below EMA50, which represents dynamic resistance that reinforces the dominance of the bearish corrective wave controlling price action in the short term. In addition, we are noticing the beginning of a bearish crossover on the relative strength indicators, after easing its oversold conditions, paving the way for further losses in the near term.
MoreBrent crude oil rose during its latest intraday trading, amid the dominance of the main short-term bullish trend, with continued positive pressure resulting from trading above EMA50, which provides a dynamic support base that reinforces the chances of this upward movement continuing. This coincides with the emergence of a positive divergence on the relative strength indicators, after it reached excessively oversold levels compared with the price movement, along with the emergence of positive signals from the indicator, reinforcing the bullish momentum.
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