Midday update for Wheat price 17-12-2019

Sugar price resumes its negative trading affected by the previously completed head and shoulders’ pattern, to keep the negative pressure valid for today, reminding you that our waited targets begin at 13.15 and extend to 13.00, while holding below 13.50 represents key condition to continue the expected decline.

Soybean price provided slight negative trades but it attempts to rise now, noticing that the price gets positive signals through stochastic, to support the continuation of the expected positive scenario for today, which its targets begin at 937.6 and extend to 957.0 after breaching the previous level, while the price needs to hold above 925.6 to achieve the suggested targets.

Corn Price shows some slight bearish bias now to approach potential test to 386.3 level, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which depends on the price stability above the mentioned level, while our next main target is located at 394.1.