Copper price remains stable until this moment below the barrier of $5.1000, which forms a significant liquidity drain zone that forces it to provide sideways trading, despite the attempt of the main indicators to provide positive momentum.
All that supports the chances for activating the bearish correctional track in the near trading, targeting $4.9100 and $4.8500 level, while breaching the barrier and holding above it will reinforce the positive chances again, to open the way for reaching new positive stations that might begin at $5.1900 reaching $5.3200.
The expected trading range for today is between $4.9100 and $5.1000
Trend forecast: Bearish
The (ETHUSD) price jumped high in its last intraday trading, to breach the critical resistance level at $2,450, amid the dominance of a bullish correctional wave on the short-term basis, supported by its continuous trading above its EMA50, besides the emergence of the positive signals on the (RSI), after it succeeded in its previous move in offloading its overbought conditions, opening the way towards achieving more of the gains.
The (Brent) price rose in its last intraday levels, in order to recover some of its previous losses, where the price settles below the critical support at $66.50, amid the dominance of the bearish correctional trend on the short-term basis, with the continuation of the negative signals on the (RSI), after reaching exaggerated overbought levels compared to the price move.
The (silver) price rose in its last intraday trading, after its decline in its early trading to lean on the key support at $35.45, gaining a positive momentum that assisted it to rebound to turn its early losses into gains, keeping its moves alongside a minor bullish rend line on the short-term basis, besides forming a positive divergence on the (RSI) after reaching oversold levels, with the beginning of the positive signs emergence from there, despite these positive factors the price remains affected by the strong dynamic resistance that is represented by its trading below EMA50.