Sugar price bounced bearishly after testing 18.25 level in the upcoming sessions, to resume the bearish track, noting that stochastic provides negative signals that support the chances of breaking 17.70 to confirm extending the bearish wave towards 17.00.
We remind you that the continuation of the bearish wave depends on the price stability below 18.25 and the most important below 18.70.
The expected trading range for today is between 17.40 support and 18.20 resistance
The expected trend for today: Overall bearish
Soybean price started today with clear negativity to complete forming double top pattern that its signs appear on the chart, which leads the price to start bearish correction that its targets begin by surpassing 1360.40 to confirm heading towards 1326.40 as a next negative station.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 1375.00 followed by 1380.00 levels and holding above them.
The expected trading range for today is between 1345.00 support and 1380.00 resistance.
The expected trend for today: Bearish
Corn price succeeded to achieve our first waited target at 589.20 and broke it to settle below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that we expect to push the price to achieve more bearish correction for the rise measured from 498.50 to 617.60.
Therefore, we are waiting for more decline in the upcoming sessions, and the next target is located at 572.10, noting that breaching 589.50 and holding above it will stop the negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 572.00 support and 593.00 resistance.
The expected trend for today: Bearish
The USDCHF pair broke 0.9135 level clearly to confirm extending the bearish wave on the intraday basis, and the way is open to achieve our next negative target at 0.9060.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that holding below 0.9135 represents initial condition to continue the expected decline.
The expected trading range for today is between 0.9040 support and 0.9150 resistance.
The expected trend for today: Bearish