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Sugar price completes positive pattern – Analysis - 20-05-2020
Sugar price keeps its stability above 10.60, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass 11.45 to reach 12.16.
Therefore, our correctional bullish trend expectations will remain valid on the intraday and short term basis, supported by the EMA50, taking into consideration that breaking 10.60 followed by 10.45 will stop the suggested rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 10.45 support and 11.45 resistance
The expected trend for today: Bullish
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Soybean price awaits negative motive – Analysis - 20-05-2020
Soybean price hovers around the EMA50, keeping its stability below the main bearish channel’s resistance that appears on the chart, and the price needs to get negative motive that assists to break the minor bullish channel’s support line at 838.00 to ease the mission of heading towards our negative targets that start at 816.30.
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