Copper price closed yesterday’s trading by providing new negative close below the barrier near $5.1000, activating with stochastic negativity and forming negative trading by reaching $5.000.
All that supports our bearish expectation, waiting to reach the negative correctional stations that begin at $4.9100 reaching extra support at $4.8100, note that the price success to breach the barrier and holding above it will cancel the negative suggestion, providing chance to target new bullish stations that might begin at $5.2300.
The expected trading range for today is between $4.9100 and $5.0500
Trend forecast: Bearish
The (ETHUSD) price declined slightly in its last intraday trading, amid of the emergence of the negative signals on the (RSI), after reaching overbought levels previously, in attempt o offload this condition and it seems like it succeeded to do that, where we notice the beginning of positive overlapping signals appearance, amid the dominance of the bullish correctional trend on the short-term basis and its trading along a bias line, with the continuation of the positive support due to its trading above EMA50, keeping the stability of the bullish track.
The (Brent) price declined in its last intraday levels, amid its attempts to gain the suitable bullish momentum to help it to breach its current resistance at $68.70, attempting to offload the clear overbought conditions on the (RSI), especially with the emergence of the negative signals from there, to open the wat for more of the gains, amid the dominance of strong bullish wave on the intraday basis, supported by its trading above EMA50
The (silver) price declined in its last intraday trading, with the emerging of the negative signals on the (RSI), attempting to offload the overbought conditions, to gather its positive strength that might assist it to recover and rise again, taking advantage of the dynamic support that is represented by its trading above EMA50, and under the dominance of the main bullish trend and its trading alongside a minor bias line on the short-term basis.