Copper price continued forming bullish waves in Friday’s trading, reaching the second target at $5.8900 level, which forces it to form temporary corrective rebound due to stochastic attempt to exit the overbought level by its fluctuation near $5.8100.

The contradiction of the main indicators might reinforce the dominance of the sideways bias in the current trading, the stability above $5.5000 supports the bullish scenario, to keep waiting for reaching the next barrier at $5.9700, to monitor its behavior to confirm the suggested target in the upcoming trading.

The expected trading range for today is between $5.6800 and $5.9700

Trend forecast: Bullish

Ethereum (ETHUSD) is stabilizing after recent intraday losses, as it attempts to form a higher low that could serve as a base for gaining positive momentum and resuming its recovery.

The price is currently approaching support at EMA50, which may enhance the chances of a near-term rebound. This comes amid a dominant main bullish trend, with price movement alongside a supportive short-term trendline. In addition, positive signals are emerging from relative strength indicators after reaching deeply oversold levels.

Brent crude oil recorded strong gains during its recent intraday trading, as the price moved higher to retest the key psychological resistance level at $100.00. This rise was supported by positive signals from relative strength indicators after reaching oversold levels.

The price is also approaching the resistance of the EMA50, while a short-term corrective bearish trend remains dominant, which may limit further gains in the near term.

The USDCHF pair rose during its recent intraday trading, supported by positive signals from relative strength indicators. This rise brought the pair back to retesting the key resistance level at 0.7925.

This comes as the pair remains affected by a previous break of a main upward trendline in the short-term timeframe, while negative pressure persists due to trading below EMA50. This reduces the chances of a sustained recovery in the near term.