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Wheat price approaches the extended target – Analysis - 23-06-2023
Wheat price shows more bullish bias to approach our new waited target at 767.20, getting continuous support by the EMA50 to expected the continuation of the bullish trend in the upcoming sessions, in addition to stochastic head towards the oversold areas and the attempt to provide the positive momentum.
Therefore, the bullish trend scenario will remain valid and active, noting that breaking 723.10 will stop the suggested bullish wave and push the price to turn to decline.
The expected trading range for today is between 735.00 support and 767.00 resistance.
The expected trend for today: Bullish
Sugar price returns to the correctional bearish track – Analysis - 23-06-2023
Sugar price traded with clear negativity yesterday to break 25.25 and close the daily candlestick below it, which stops the recently suggested positive scenario and push the price to return to the correctional bearish track again, on its way to visit 24.30 initially.
MoreSoybean price breaks the support – Analysis - 23-06-2023
Soybean price bounced downwards strongly to break 1348.30 and settles below it, to confirm stopping the bullish correction and return to the main bearish track again, on its way to achieve negative targets that start at 1311.70 and extend to 1266.30 after breaking the previous level.
MoreCorn price fails to consolidate positively – Analysis - 23-06-2023
Corn price couldn’t manage to hold for long time above 622.40 level, to trade with clear negativity and head towards potential return to the main bearish track, approaching the key support 604.00 now, noting that breaking this level will confirm the continuation of the bearish bias and head towards 589.20 areas as a next main station.
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