Midday update for Wheat price 04-05-2021
Wheat price trades positively now to test the key resistance 726.80, affected by stochastic positivity, which urges caution from the upcoming trading, as breaching this level represents the key to achieve new gains and stop the morning suggested negative scenario, to head towards achieving positive targets that start at 750.00, while the price needs to break 716.00 to confirm the continuation of the bearish trend that targets testing 700.00 level initially.
The expected trading range for today is between 700.00 support and 730.00 resistance.
The expected trend for today: Bearish
Midday update for Sugar price 04-05-2021
Sugar price attempts to breach 16.80 level, which hints heading to attempt to recover and regain the main bullish trend again, which makes us prefer staying aside until the price confirms its situation according to this level, as confirming breaching it will push the price to achieve new gains that start by testing 17.52 followed by 18.00 levels, while consolidating below it will press on the price to decline towards 16.55 followed by 16.00 levels.
The expected trading range for today is between 16.40 support and 17.00 resistance
The expected trend for today: Neutral
Midday update for Soybean price 04-05-2021
Soybean price shows positive trades after leaning on the EMA50, to reach the thresholds of the key resistance 1527.20, and as we mentioned this morning, the price needs to hold below this level to keep the correctional bearish scenario active, which its targets begin by breaking 1500.00 to confirm heading towards 1475.50.
The expected trading range for today is between 1480.00 support and 1527.00 resistance.
The expected trend for today: Bearish
Midday update for Corn price 04-05-2021
Corn price trades positively to reach the key resistance 683.60, which urges caution from the upcoming trading, as continuing the rise and surpassing this level will stop the morning suggested negative scenario and lead the price to regain the main bullish trend again, which its main targets begin at 700.00 followed by 730.00.
The expected trading range for today is between 650.00 support and 685.00 resistance.
The expected trend for today: Bearish