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Wheat price achieves strong gains – Analysis - 04-10-2021
Wheat price rallied upwards strongly in the previous sessions after beaching the first target at 741.90, to support the expectations of extending the bullish wave on the intraday and short term basis, reminding you that our next target is located at 782.20.
The positive effect of the inverter head and shoulders’ pattern still active, and the EMA50 and stochastic provides negative signals that support the expected rise, to continue suggesting the bullish trend unless breaking 741.90 and holding below it.
The expected trading range for today is between 740.00 support and 775.00 resistance.
The expected trend for today: Bullish
Sugar price is affected by the negative momentum – Analysis - 04-10-2021
Sugar price ended last Friday negatively to more below the symmetrical triangle’s resistance, affected by stochastic negativity, while the EMA50 forms positive support against the price, waiting to resume the positive trades to test 20.60 mainly.
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Soybean price shows new negative trades to approach our main waited target at 1225.90, to support the continuation of the bearish trend scenario on the intraday and short term basis, noting that breaking the mentioned level will extend the bearish wave to reach 1195.00 as a next station.
MoreCorn price awaits the break – Analysis - 04-10-2021
Corn price continues to fluctuate inside the bearish flag pattern, waiting to break it support line that rises now to 526.00 to motivate the price to return to the main bearish track, noting that the first target is located at 500.00.
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