Despite the stability of copper price trading within the bullish channel’s levels, the continuation of the main indicators’ contradiction forces it to provide more of the sideways trading by its continuous trading near $4.9800.
Note that the stability of the trading above the extra support at $4.7500 is important for increasing the chances for gathering extra positive momentum to ease the mission of surpassing the obstacle at $5.0600, then begin targeting positive stations by its rally towards $5.2000 and $5.3200.
The expected trading range for today is between $4.7500 and $5.0600
Trend forecast: Sideways
The (ETHUSD) price declined in its last trading on the intraday levels, affected by the negative pressure due to its trading below EMA50, with the emergence of the negative signals on the relative strength indicators that have reached oversold levels, exaggeratedly compared to the price move, which represents a clear signals for the loss of positive momentum that might help it to recover and rise again.
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The (Brent) price fluctuated on its last intraday levels, taking advantage of the emergence of the positive signals on the relative strength indicators, which provides some bullish momentum to face the dominance of the main bearish trend on the short-term basis, amid its trading alongside supportive trend line for this track, besides the continued negative pressure due to its trading below EMA50, intensifying the negative pressure.
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The (silver) price settled low in its last intraday trading, with the emergence of the negative signals on the relative strength indicators, after offloading its oversold conditions in our previous moves, leaning on the support of its EMA50, accompanied by testing main bullish trend line on the short-term basis, the importance of this level as a support might help the price to gain the required bullish momentum to recover and rise again.
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