Wheat price shows more bearish bias to approach 600.00 barrier, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, and the way is open to head towards our next waited target at 580.10.
The negative pressure formed by the EMA50 supports the suggested bearish wave, which will remain valid unless the price rallied to breach 668.50 and hold above it.
The expected trading range for today is between 600.00 support and 625.00 resistance.
The expected trend for today: Bearish
Sugar price provided additional negative trades to break 24.00 and settles below it, to reactivate the bearish trend scenario and head towards achieving negative targets that start at 23.50 and extend to 23.75 after breaking the previous level.
Therefore, we expect to witness more decline in the upcoming sessions, supported by moving below the EMA50, noting that breaching 24.30 will stop the negative scenario and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 23.40 support and 24.30 resistance
The expected trend for today: Neutral
Soybean price attempted to break 1311.70 level yesterday, but it begins today positively to settle above the mentioned level, which keeps the bullish trend scenario active, waiting to head towards 1348.30 mainly.
Stochastic provides positive signals that we are waiting to motivate the price to achieve the expected rise, reminding you that it is important to hold above 1311.70 to continue the bullish wave.
The expected trading range for today is between 1300.00 support and 1345.00 resistance.
The expected trend for today: Bullish
Corn price shows more bearish bias, to confirm the continuation of the bearish trend domination, reminding you that our next target is located at 435.60.
Therefore, the negative scenario will remain valid and active, supported by the negative pressure formed by the EMA50, noting that breaching 509.50 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 460.00 support and 480.00 resistance.
The expected trend for today: Bearish