|
Wheat price breaks the support – Analysis - 28-07-2023
Wheat price opened today with clear negativity to break 723.10 and settles below it, which stops the recently suggested positive scenario and head to decline in the upcoming sessions, on its way to visit 700.00 followed by 668.50 levels as next main stations.
Therefore, the bearish bias will be expected for today, supported by moving below the EMA50, conditioned by the price stability below 723.10.
The expected trading range for today is between 690.00 support and 725.00 resistance.
The expected trend for today: Bearish
Thanks for your feedback.
Sugar price consolidates above the support – Analysis - 28-07-2023
Sugar price ended yesterday positively after attempting to break 24.30 level, to hint heading to resume the main bullish trend, on its way to achieve positive targets that start at 25.25.
MoreSoybean price tests the critical support – Analysis - 28-07-2023
Soybean price faced strong negative pressure yesterday, to break the bullish channel’s support line and reach the key support 1385.00, noticing that the price begins to rebound bullishly from there, supported by stochastic positivity, which supports the chances of resuming the expected bullish trend for the upcoming period, which its targets begin by testing 1430.40 level.
MoreCorn price under the negative pressure – Analysis - 28-07-2023
Corn price continues to provide negative trades to press on the minor support 530.50, affected by stochastic negativity, which hints heading for potential turn to decline, which makes us stay aside until we get clearer signal for the next trend.
More