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Wheat price gets a negative signal – Analysis - 20-05-2020
Wheat price did not show any strong move yesterday, to continue fluctuating around 500.00, therefore, no change to the bearish trend scenario that depends on the price stability below 503.70 and 507.00 levels, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 483.20.
The expected trading range for today is between 485.00 support and 506.50 resistance.
The expected trend for today: Bearish
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Sugar price completes positive pattern – Analysis - 20-05-2020
Sugar price keeps its stability above 10.60, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass 11.45 to reach 12.16.
MoreSoybean price awaits negative motive – Analysis - 20-05-2020
Soybean price hovers around the EMA50, keeping its stability below the main bearish channel’s resistance that appears on the chart, and the price needs to get negative motive that assists to break the minor bullish channel’s support line at 838.00 to ease the mission of heading towards our negative targets that start at 816.30.
MoreCorn price tests the resistance – Analysis - 20-05-2020
Corn Price tested 326.10 and bounced bearishly from there, accompanied by witnessing clear negative signals through stochastic, which supports the expectations of continuing the bearish trend in the upcoming period, noting that our targets begin by breaking 317.00 to open the way to head towards the recently recorded low at 307.60.
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