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Midday update for Wheat price 03-02-2020
Wheat price presses negative on the bullish channel’s support line that appears on the chart in attempt to break it, and continues to move inside the minor bearish channel that supports the chances of continuing the decline in the upcoming sessions, to continue suggesting the bearish trend on the intraday and short term basis, supported by the EMA50 that presses negatively on the price, waiting to visit 530.00 as a next main target, reminding you that it is important to hold below 560.60 to continue the expected decline.
The expected trading range for today is between 535.00 support and 550.00 resistance.
The expected trend for today: Bearish
Midday update for Sugar price 03-02-2020
Sugar price continues to fluctuate at the bullish channel’s support line and keeps its stability above it, getting continuous positive support by the EMA50, to keep our bullish overview that depends on the price stability above 14.00, noting that our waited targets begin at 14.75 and extend to 15.00 after surpassing the previous level.
The expected trading range for today is between 14.15 support and 14.65 resistance
The expected trend for today: Bullish
Midday update for Soybean price 03-02-2020
Soybean price resumes its negative trading to reach the thresholds of the first target at 875.70, expecting the continuation of the decline supported by the negative pressure formed by the EMA50 to head towards 871.30 as a next station.
In general, we will continue to suggest the bearish trend on the intraday and short term basis unless breaching 898.00 level and holding above it.
The expected trading range for today is between 875.00 support and 885.00 resistance.
The expected trend for today: Bearish
Midday update for Corn price 03-02-2020
Corn Price did not show any strong move since morning, to remain confined inside the sideways range that appears on the chart, waiting to break 380.10 support or breach 394.10 resistance to achieve the next targets clearly.
To review the expected targets after the breach, please check our morning report.
The expected trading range for today is between 378.00 support and 390.00 resistance.
The expected trend for today: Sideways