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Sugar price tests the resistance again – Analysis - 04-08-2022
Sugar price provided clear positive trades yesterday to test the key resistance 18.00, and the EMA50 met this resistance to add more strength to it, to keep its stability below this level and keep the main bearish trend scenario active, waiting to resume the bearish wave that targets 17.60 followed by 17.00 levels as next main stations.
Stochastic provides negative signals that support the expected decline, which will remain valid conditioned by the price stability below 18.00.
The expected trading range for today is between 17.30 support and 18.00 resistance
The expected trend for today: Bearish
Soybean price breaks key support – Analysis - 04-08-2022
Soybean price traded with clear negativity in the previous sessions to break the intraday bullish channel’s support line that appears on the chart and settles below it, reinforcing the expectations of continuing the bearish trend on the intraday basis, opening the way to achieve our negative targets that start at 1355.00 and extend to 1318.20.
MoreCorn price crawls downwards – Analysis - 04-08-2022
Corn price continues to decline to move below 600.00 barrier, reinforcing the expectations of continuing the bearish trend, which targets 575.00 as a next station, noting that breaking this level will extend the bearish wave to reach 550.00 as a next target.
MoreThe USDCHF tests the resistance – Analysis - 04-08-2022
The USDCHF pair continued to rise to surpass 0.9585 level and test the most important resistance at 0.9630, and consolidates below this resistance now, noticing that stochastic provides negative signals on the four hours’ time frame, waiting to motivate the pirce to rebound bearishly and resume the main bearish trend.
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