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Sugar price faces negative pressure – Analysis - 11-09-2023
Sugar price finds difficulty to consolidate above 26.80 level, as it ended last Friday with clear negativity, which urges caution from the upcoming trading, as the price needs to consolidate above 26.20 to keep the bullish trend scenario active for the upcoming period, which targets 27.50 areas mainly.
On the other hand, we should note that breaking 26.20 will stop the expected rise and push the price to return to the correctional bearish track again.
The expected trading range for today is between 26.20 support and 27.10 resistance
The expected trend for today: Bullish
Soybean price attempts positively – Analysis - 11-09-2023
Soybean price shows positive trades by today’s open to move above the intraday bearish channel’s resistance, but we notice that stochastic lost its positive momentum clearly, which supports the chances of resuming the expected bearish trend on the intraday basis, which targets testing 1348.30 mainly.
MoreCorn price within continuation pattern – Analysis - 11-09-2023
Corn price’s recent trades are confined within symmetrical triangle that appears on the chart; thus, the price needs to break 480.00 to get negative motive that assist to rally towards our main negative target at 435.60.
MoreThe USDCHF within sideways track – Analysis - 11-09-2023
The USDCHF pair trades within sideways track in the previous sessions, affected by stochastic negativity to show some bearish bias now, while the EMA50 continues to provide the positive support to the price, to continue suggesting the bullish trend for the upcoming period, which targets 0.8995 mainly.
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