Copper price delayed activating the bearish corrective trend as it faced new positive pressure by stochastic reaching overbought levels, besides forming extra support at $6.1000 level in the last period, which pushed it to attack the barrier near $6.3800.

Facing positive pressure might push the price to surpass the current barrier, to begin targeting some positive stations by its rally towards $6.4600 and $6.6000, while the decline below $6.1000 and providing negative close will confirm its readiness to activate the bearish corrective trend, to expect reaching $5.9500 and $5.8000.

The expected trading range for today is between $6.2000 and $6.4000

Trend forecast: Fluctuating within the bullish trend

Ethereum price (ETHUSD) declined during its latest intraday trading after facing resistance at its EMA50, which forced the price to reverse lower and come under renewed bearish pressure. This move was reinforced by negative signals emerging from the relative strength indicators after reaching overbought territory, suggesting a loss of upward momentum.

The broader short-term trend remains bearish, with price action continuing to move within a downward-sloping trendline structure, further supporting the downside bias in the near term.

Brent crude oil price witnessed volatile trading during its latest intraday sessions, as the price attempted to recover part of its previous losses while also trying to ease some of the clear oversold conditions on the relative strength indicators, especially with positive signals continuing to emerge from them.

However, the price remains negatively affected by the previous break below a major short-term bullish trendline, alongside the continued negative pressure resulting from trading below EMA50, which strengthens the bearish pressure.

The USDCHF pair rose during its latest intraday trading, supported by positive signals emerging from the relative strength indicators after they had previously reached heavily oversold levels. However, we now notice that these indicators entered significantly overbought territory compared to the pair’s price movement, signaling a rapid loss of the positive momentum that helped the pair recover part of its previous losses.

Meanwhile, the short-term bearish trend remains dominant, with continued negative pressure resulting from the pair trading below EMA50, which reduces the chances of a sustainable recovery in the near term.