Copper price activated with the temporary negative pressures yesterday, forming more corrective waves, hitting the previously waited target at $5.5100, facing an important support to bounce higher towards $5.8500.

The stability above $5.5100 level confirms the continuation of the bullish scenario, therefore, we will keep waiting for gathering extra bullish momentum, to ease the mission of its rally towards $59700, to press on the resistance at $6.2000.

The expected trading range for today is between $5.7100 and $6.0000

Trend forecast: Bullish

The (ETHUSD) price declined in its last intraday trading, with the beginning of forming negative divergence of relative strength indicators, after reaching exaggerated overbought levels compared to the price move, with the emergence of negative signals from there, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on short-term basis.

The (Brent) price fluctuated in its last intraday trading, with negative pressure due to its trading below EMA50, with the dominance of steep bearish wave, on the other hand, the price is leaning on the support line of a minor bullish trend on the short-term basis, with the emergence of positive signals from relative strength indicators, after reaching oversold levels, to offload some of these oversold conditions, indicating a quick decline on the bullish momentum.

The (USDCHF) price declined in its last intraday trading, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to recover and rise again, attempting to offload some of its clear overbought conditions on relative strength indicators, especially with the emergence of negative signals from there, affected by breaching minor bearish trend line on short-term basis, taking advantage of its trading above EMA50, forming a dynamic support that reinforces the recovery on the near-term basis.