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Wheat price around the moving average – Forecast today - 13-08-2024
Wheat price stared to decline after touching 566.00$ areas, to hint heading to resume the main bearish track again, supported by stochastic loss to the positive momentum, waiting to visit 532.10$ initially.
Therefore, the bearish bias will be suggested for today, noting that breaching 557.50$ will stop the expected decline and lead the price to recover again, to head towards testing 578.40$ level mainly.
The expected trading range for today is between 535.00$ support and 560.00$ resistance.
Trend forecast: Bearish
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Sugar price declines again – Forecast today - 13-08-2024
Sugar price returned to decline after testing the resistance line that appears on the chart, motivated by stochastic negativity, waiting for more decline in the upcoming sessions, targeting testing 17.96$ initially, noting that breaking this level will push the price towards 17.35$ direct.
MoreSoybean price keeps achieving the negative targets – Forecast today - 13-08-2024
Soybean price traded with strong negativity yesterday to achieve our second target at 988.00$, noticing that the price begins today with more decline to confirm surpassing this level and open the way to continue the bearish wave on the intraday and short-term basis, targeting visiting the bearish channel’s support line around 958.00$.
MoreCorn price attempts to recover – Forecast today - 13-08-2024
Corn price traded positively yesterday to test the resistance line that appears on the chart, noticing that stochastic lost its positive momentum and approaches to provide negative overlapping signal now, waiting to motivate the price to resume the expected bearish wave on the intraday and short-term basis, which targets 380.00$ followed by 362.00$ levels as next main stations.
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