|
Soybean price tests the channel’s support – Analysis - 24-02-2023
Soybean price traded negatively to test the bullish channel’s support line that appears on the chart, and the EMA50 meets this support to add more strength to it, while stochastic shows clear positive signals on the four hours’ time frame.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, and the price needs to breach 1537.60 to reinforce the chances of heading towards 1580.00 as a next positive station, noting that breaking 1525.00 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1515.00 support and 1555.00 resistance.
The expected trend for today: Bullish
Thanks for your feedback.
Corn price suffers strong losses – Analysis - 24-02-2023
Corn price faced strong negative pressure in the previous sessions, to break 673.50 and decline sharply, approaching 38.2% Fibonacci correction level at 652.10, to head towards achieving more expected decline on the intraday basis, noting that breaking the last level will extend the correctional bearish wave to reach 634.80 as a next station.
MoreThe USDCHF breaches the resistance – Analysis - 24-02-2023
The USDCHF pair succeeded to breach 0.9316 level and close the daily candlestick above it, reinforcing the expectations of continuing the bullish trend efficiently for the upcoming sessions, opening the way to achieve additional positive targets that reach 0.9400 followed by 0.9475.
MoreThe NZDUSD tests the resistance – Analysis - 24-02-2023
The NZDUSD pair tests the correctional bearish channel’s resistance now, and the EMA50 meets this resistance to add more strength to it, waiting to resume the negative trades to test 0.6140 that represents our next main target.
More