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Sugar price faces clear negative pressure – Analysis - 24-04-2023
Sugar price traded with clear negativity on last Friday, as it found solid resistance at 25.00 barrier, which forced the price to decline to test the bullish channel’s support line that appears on the chart, to face contradiction between the technical factors that makes us prefer to stay aside until the price confirms its situation according to the support line, located now at 24.10.
Note that consolidating above this support will lead the price to resume the main bullish wave that its next target located at 25.75, while breaking it will press on the price to suffer additional losses that start bearish correction that targets 23.20 areas initially.
The expected trading range for today is between 23.85 support and 24.90 resistance
The expected trend for today: Neutral
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Soybean price completes negative pattern – Analysis - 24-04-2023
Soybean price declined strongly in the previous sessions to surpass our first waited negative target at 1450.00 and settles below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass 1430.0 to reach 1415.00 areas.
MoreCorn price hits the negative targets – Analysis - 24-04-2023
Corn price traded with strong negativity in the previous sessions to achieve our extended target at 617.40, noticing that the price breaks this level by today’s open to head towards achieving more expected decline in the upcoming sessions, paving the way to visit 596.00 areas on the near term basis.
MoreThe USDCHF crawls downwards – Analysis - 24-04-2023
The USDCHF pair continued to decline, organized inside the bearish channel that appears on the chart, falling under continuous negative pressure formed by the EMA50, waiting to test 0.8865 level as a first station, reminding you that surpassing this level will lead the price to target 0.8705 areas on the near term basis.
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