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Wheat price gets new negative motive – Analysis - 30-05-2023
Wheat price tested the EMA50 and kept its stability below it, to start declining by today’s open, motivated by the negative signal that appears clearly on stochastic, waiting to test 603.10 initially, reminding you that breaking it will push the price to 590.00 as a next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 629.40.
The expected trading range for today is between 595.00 support and 620.00 resistance.
The expected trend for today: Bearish
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Sugar price tests the resistance – Analysis - 30-05-2023
Sugar price ended last week with clear positivity to attack 25.25 level, noticing that the EMA50 forms good resistance against the price, to keep the chances valid to resume the correctional bearish trend, which its next target located at 24.30.
MoreSoybean price begins negatively – Analysis - 30-05-2023
Soybean price tested the bearish channel’s resistance and bounced bearishly by today’s open, to resume the main bearish trend, on its way to visit 1200.00 as a next main target.
MoreCorn price surpasses the resistance – Analysis - 30-05-2023
Corn price rallied upwards strongly to breach 555.90 and open the way to achieve more bullish correction, as it approached 574.30 level, affected by stochastic negativity to show some slight bearish bias, waiting to resume the positive trades to surpass the last level and open the way to head towards 589.20 as a next correctional target.
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