|
Sugar price draws new negative pattern – Analysis - 21-08-2023
Sugar price shows calm negative trades to move below 24.00 barrier, and by taking a deeper look at the chart, we find that the price forms double top pattern that its confirmation line meets our waited target at 23.50, which means that breaking this level will push the price to achieve additional negative targets that reach 22.75 followed by 21.80.
Therefore, we will continue to suggest the bearish trend for the upcoming period, reminding you that it is important to hold below 24.30 to achieve the waited targets.
The expected trading range for today is between 23.40 support and 24.20 resistance
The expected trend for today: Bearish
Soybean price reaches the new target – Analysis - 21-08-2023
Soybean price opened today’s trading with strong positivity to reach our waited target at 1385.00, affected by the triple bottom pattern that appears on the chart, to support the chances of achieving additional gains and surpass the mentioned level to visit 1408.00 followed by 1430.40 levels as next positive stations.
MoreCorn price tests the resistance – Analysis - 21-08-2023
Corn price trades positively by today’s open to approach the key resistance 509.50, affected by stochastic positivity, noting that the EMA50 meets the mentioned resistance to add more strength to it, waiting to resume the negative trades to head towards achieving our next main target that reaches 435.60.
MoreThe USDCHF touches the first target – Analysis - 21-08-2023
The USDCHF pair succeeded to achieve our first waited target at 0.8825 and settles there, waiting to breach this level to open the way to head towards our next positive target at 0.8890.
More