Copper price formed strong bullish rally yesterday, taking advantage of the positive stability above $5.5100 support, besides providing bullish momentum by the main indicators, to hit the initial main target by reaching $5.9900.

Facing positive pressures makes us keep the bullish scenario, reinforcing the chances of recording new historical gains to expect reaching $6.0750, to press on the resistance of the main bullish channel at $6.1700.

The expected trading range for today is between $5.8400 and $6.1700

Trend forecast: Bullish

The (ETHUSD) price rose in its last intraday trading, after reaching our last expected target at $3,240 resistance, to bounce lower to gain some bullish momentum that might help it to breach this resistance, amid the continuation of the positive support due to its trading above EMA50, under the dominance of the bullish corrective on the short-term basis, and its trading alongside trendline, besides the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels.

The (Brent) price rose slightly in its last trading on the intraday levels, leaning on EMA50’s support, gaining some bullish momentum after the price attempt to gather the gains of its previous rises, accompanied by its attempt to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals, amid the dominance of bullish corrective wave on the short-term basis.

Silver price extended its gain in its last intraday trading, breaching $78.10 resistance level, this resistance was an expected target in our previous analysis, amid the continuation of the dynamic support that is represented by its trading above EMA50, which reinforces the stability and dominance of the main bullish trend on the short-term basis, especially with its trading alongside trendline, with the emergence of the positive signals on the relative strength indicators, despite its stability on the overbought levels.