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Wheat price faces temporary negative pressure – Analysis - 18-10-2023
Wheat price traded negatively in the previous sessions to test the EMA50 that formed good support against the price, noticing that the price begins today positively in attempt to resume the correctional bullish trend, waiting to test 605.00 level initially, reminding you that breaching this level will extend the bullish wave to reach 639.30 areas.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 585.00 and holding below it.
The expected trading range for today is between 585.00 support and 605.00 resistance.
The expected trend for today: Bullish
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Sugar price achieves clear gains – Analysis - 18-10-2023
Sugar price rallied upwards strongly in the previous sessions to breach 26.74 and head towards resuming the main bullish trend again, on its way to achieve gains that start by testing the previously recorded top at 27.82.
MoreSoybean price surpasses the resistance – Analysis - 18-10-2023
Soybean price breached 1311.70 strongly to approach our first extended target at 1328.50, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, reminding you that our next target reaches 1348.30.
MoreCorn price leans on the channel’s support line – Analysis - 18-10-2023
Corn price leaned on the bullish channel’s support line that appears on the chart, starting today positively to move away from this level and heads towards resuming the expected bullish trend on the intraday and short-term basis, and we believe that the way is open to achieve our next main target at 509.50.
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