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Wheat price faces solid support – Analysis - 21-10-2022
Wheat price shows some bullish bias after testing 844.40 level in the previous sessions, to notice that stochastic loses its positive momentum clearly, while the EMA50 continues to press negatively on the price.
Therefore, we believe that the chances valid to resume the correctional bearish trend, which its next target located at 820.10, while holding below 868.70 represents key condition to continue the expected decline.
The expected trading range for today is between 840.00 support and 870.00 resistance.
The expected trend for today: Bearish
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Sugar price completes negative pattern – Analysis - 21-10-2022
Sugar price managed to break 18.40 level and hold with a daily close below it, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass 18.13 to reach 17.80.
MoreSoybean price tests the resistance again – Analysis - 21-10-2022
Soybean price traded positively yesterday to test 1402.10 level, as it keeps its stability below it, noticing that the price begins to decline by today’s open, to keep the bearish trend scenario active for the upcoming period, supported by stochastic negativity, waiting to head towards our negative targets that start at 1360.00 and extend to 1318.20.
MoreCorn price tests the moving average – Analysis - 21-10-2022
Corn price returns to provide intraday positive trades, but it hits the resistance formed by the EMA50, accompanied by witnessing clear negative signals through stochastic, thus, we believe that the chances are valid to resume the bearish bias in the upcoming sessions, waiting to test 673.50 level initially.
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