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Midday update for Wheat price 11-05-2021
Wheat price shows clear positive trades to test the EMA50 that forms good resistance against the price, and we still neutral until the price confirms its next destination clearly, noting that surpassing 733.50 will lead the price to resume the main bullish trend and head towards 758.00 initially, while breaking 726.80 represents the key to extend the correctional bearish wave towards 700.00 as a next negative station.
The expected trading range for today is between 710.00 support and 750.00 resistance.
The expected trend for today: Neutral
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Midday update for Sugar price 11-05-2021
Sugar price trades with clear positivity to surpass 17.50 and settles above it, reinforcing the expectations of continuing the bullish trend, which its next target located at 18.00, while holding above 17.20 represents key condition to continue the suggested rise.
MoreMidday update for Soybean price 11-05-2021
Soybean price tested the bullish trend support line and bounced bullishly from there, to keep the bullish trend valid and active for the upcoming period, supported by the EMA50 that carries the price from below, depending on the price stability above 1527.20, noting that we are waiting to visit 1600.00 as a next main target.
MoreMidday update for Corn price 11-05-2021
Corn price trades below the bullish channel’s support line that appears on the chart, but we notice that the EMA50 protects the price from suffering more losses, while stochastic provides clear positive signals now.
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