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Midday update for Soybean price 19-11-2019
Soybean price provides positive trading now that hints the price head to test 916.80 areas again, as the price is affected by stochastic positivity, while the EMA50 forms negative pressure against the price.
Therefore, we believe that the chances are valid to resume the expected bearish trend on the intraday and short term basis, which targets 900.00 level as a next station, while its continuation conditions holding below 920.85.
The expected trading range for today is between 900.00 support and 916.80 resistance.
The expected trend for today: Bearish
Midday update for Corn price 19-11-2019
Corn Price shows some slight bullish bias, noticing that stochastic provides clear overbought signals now, which supports the chances of bouncing bearishly to resume the expected bearish trend for the upcoming period, which depends on the price stability below 371.00, while its next main target located at 363.74.
The expected trading range for today is between 363.00 support and 371.00 resistance.
The expected trend for today: Bearish
Midday update for Brent oil 19-11-2019
Brent oil price shows new bearish bias to attack 61.20 support line and attempts to hold below it, which hints the price hed to turn to decline in the upcoming sessions, but we need to get a daily close below the mentioned level to confirm the continuation of the bearish bias towards 59.60 as a next negative target.
Therefore, we will continue with our neutrality until the price confirms breaking the mentioned support or breaching 62.50 resistance to detect its next targets clearly.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Neutral
Midday update for Crude oil 19-11-2019
Crude oil price trades negatively now on its way to test the key support 55.90, which represents one of the next trend keys besides 57.40 resistance, and as we mentioned this morning, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.
To review the details of the expected targets after the breach, please check our morning report.
The expected trading range for today is between 55.50 support and 58.50 resistance.
The expected trend for today: Neutral