Copper price received extra positive momentum yesterday by stochastic rally to 80 level, accompanied with our bullish expectation, to notice its rally to the target at $4.8900, which forms an important barrier against resuming the bullish scenario.

The price keeps forming mixed sideways trading until achieving the current barrier, to open the way towards recording extra gains that might extend to $5.030, while the failure will increase the chances for activating the bearish correctional track, which might force it to decline towards $4.7500 reaching the extra support at $4.660 level.

The expected trading range for today is between $4.7700 and $4.9600

Trend forecast: Bullish

The (ETHUSD) price declined in its last intraday trading, affected by reaching the resistance of EMA50, accompanied by reaching the resistance of it’s  EMA50, besides testing bearish correctional bias line on the short-term basis, increasing the negative pressure on the price to rebound lower, especially with the beginning of forming a negative divergence of the (RSI), after reaching overbought levels, with the emergence of the negative signals.

The (Brent) price rose slightly in its last intraday trading, in attempt to recover some of its previous losses, attempting to offload some of its clear oversold level on the (RSI), especially with the appearance of positive overlapping signals from them, this come amid the price affection by breaking a minor bullish trend line on the short-term basis, reinforcing the chances for declining again.

The (silver) price rose slightly in its last intraday trading, affected by the stability of the critical support at $35.90, amid the continuation of the negative pressure that comes from the trading below its EMA50, and under the effect of breaking a minor bullish trend line on the short-term basis, besides the formation of a negative divergence on the (RSI), after reaching overbought levels, with the beginning of the negative signals emergence from there, increasing the negative pressure around the price.