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Wheat price approaches the target – Analysis - 18-06-2021
Wheat price broke 659.40 level strongly and rallied bearishly to approach our waited target at 633.60, to support the expectations of continuing the decline on the intraday and short term basis, noting that breaking the targeted level will push the price to visit the previously recorded low at 591.90 as a next main station.
Therefore, we expected to witness more bearish bias in the upcoming sessions conditioned by the price stability below 659.40.
The expected trading range for today is between 635.00 support and 655.00 resistance.
The expected trend for today: Bearish
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Sugar price surpasses the first target – Analysis - 18-06-2021
Sugar price managed to achieve our first waited target at 16.85 and broke it to close the daily candlestick below it, which confirms the extension of the bearish wave to target 16.45 as a next station, waiting for more expected decline in the upcoming sessions.
MoreSoybean price suffers sharp losses – Analysis - 18-06-2021
Soybean price traded with strong negativity yesterday to surpass our waited target at 1318.80 and reach 1260.00, and the way is open to achieve more bearish correction, noting that the next target is located at 1225.90.
MoreCorn price hits the extended target – Analysis - 18-06-2021
Corn price succeeded to achieve our waited target at 572.70 and broke it to settle below it, which puts the price under more expected negative pressure on the short term and medium term basis, to head towards visiting 526.20 as a next main station.
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