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Midday update for Wheat price 11-01-2021
Wheat price begins the breaking process to 635.00 level and attempts to hold below it, which hints the price head to achieve more decline in the upcoming sessions, affected by the head and shoulders’ pattern that was completed after breaking the mentioned level, making the bearish bias suggested for the rest of the day, waiting to test 625.70 as a first correctional target, taking into consideration that the continuation of the negative scenario depends on the price stability below 635.00 – 640.00 levels.
The expected trading range for today is between 625.00 support and 640.00 resistance.
The expected trend for today: Bearish for the rest of the day
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Midday update for Sugar price 11-01-2021
Sugar price faces negative pressure to break 14.95 and attempts to hold below it, which urges caution from the upcoming trading, as closing the daily candlestick below it will press on the price to start correctional bearish wave that its targets begin at 14.10, while stepping above it again will push the price to resume the main bullish trend that its next target located at 16.00.
MoreMidday update for Soybean price 11-01-2021
Soybean price trades with new positivity now to move away from the intraday bullish channel’s support line, which keeps the bullish trend scenario active for the rest of the day, which targets 1413.70 level as a next station, noting that holding above 1365.00 is important to achieve the waited positive targets.
MoreMidday update for Corn price 11-01-2021
Corn price tested the minor bullish channel’s support line that appears on the chart and bounced bullishly from there, to keep the bullish trend valid and active for today, supported by the EMA50 that carries the price from below, waiting to visit 512.50 level as a next target, noting that holding above 483.00 is important to continue the expected rise.
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