Copper price returned to form sideways trading, due to its stability below $4.6200 level, attempting to gather extra positive momentum to reinforce the dominance of the suggested bullish bias.
Note that the main stability within the bullish channel’s levels, and the continuation of forming extra support at $4.2600, these factors support the continuation of the positive trading, which might target $4.7500, and surpassing this barrier might extend the trading towards new bullish stations, which makes $4.9500 represents our initial extra target for the bullish track.
The expected trading range for today is between $4.5000 and $4.7500
Trend forecast: Bullish
The (ETHUSD) price rose in its last trading on the intraday levels, taking advantage of the dynamic support that is represented by its trading above EMA50, besides the stability of the critical support at $4,490, gaining bullish momentum that helped it to achieve these last gains, especially with the emergence of the positive signals on the relative strength indicators, however they entered exaggerated overbought levels compared to the price movement, which might decelerate the gains on the near-term basis, all that comes amid the dominance of the bullish trend on the short-term basis and its trading alongside minor trendline.
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The (Brent) price declined in its last trading on the intraday levels, with the emergence of the negative overlapping signals on the relative strength indicators, after reaching overbought levels, attempting to offload some of this overbought condition, which might provide extra bullish momentum that help it to resume its strong gains, these declines represent healthy sign for gathering the gains of its previous rises, amid the dominance of the bullish correctional trend on the short-term basis and its trading alongside trendline, with the stability of its trading above the critical resistance at $67.60, which confirms breaching it and reinforcing the positive signals in the upcoming period.
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The (silver) price slipped to the downside in its last intraday trading, attempting to look for rising bottom that takes it as a base that might help it to gain the required positive momentum for its recovery, to lean on the support of its EMA50, accompanied by testing minor bullish trend line on the short-term basis, reinforcing the strength of this area as supportive factor for the price that might indicates its bearish track on the near-term basis, especially with the relative strength indicators reach to sever oversold levels compared by the price move.
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