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Wheat price crawls downwards – Analysis - 06-09-2023

Economies.com
2023-09-06 04:16AM UTC

Wheat price shows calm bearish bias to attempt to surpass 600.00 barrier, while stochastic loses its positive momentum clearly, waiting to assist to push the price to continue the decline and achieve our waited target at 580.20.

 

The continuation of the bearish wave depends on the price stability below 613.00 as a first condition, as breaching it might push the price to achieve intraday gains that start at 637.50 before any new attempt to decline.

 

The expected trading range for today is between 590.00 support and 610.00 resistance.

 

The expected trend for today: Bearish

Sugar price keeps achieving the positive targets – Analysis - 06-09-2023

Economies.com
2023-09-06 04:16AM UTC

Sugar price rallied upwards strongly yesterday to reach our waited extended target at 26.80, and we expect the continuation of the bullish trend domination to surpass this level and achieve additional gains that reach 27.50 areas.

 

Therefore, we are waiting for more bullish bias in the upcoming sessions, supported by the EMA50, taking into consideration that failing to surpass 26.80 will stop the positive scenario and h the price to turn to decline.

 

The expected trading range for today is between 26.40 support and 27.25 resistance

 

The expected trend for today: Bullish

Soybean price tests the resistance – Analysis - 06-09-2023

Economies.com
2023-09-06 04:15AM UTC

Soybean price tested 1385.00 resistance line and keeps its stability below it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the expected bearish trend on the intraday basis, which its next target located at 1348.30.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1385.00 and holding above it.

 

The expected trading range for today is between 1355.00 support and 1390.00 resistance.

 

The expected trend for today: Bearish

Corn price within tight track – Analysis - 06-09-2023

Economies.com
2023-09-06 04:15AM UTC

Corn price shows sideways and tight trades, settling around 490.00, thus, no change to the expected bearish trend on the intraday and short term basis, which gets continuous support by the EMA50, depending on the price stability below 509.50, reminding you that our next main target reaches 435.60.

 

The expected trading range for today is between 475.00 support and 495.00 resistance.

 

The expected trend for today: Bearish