Wheat price heads towards the support – Analysis - 22-07-2021
Wheat price shows some bearish bias to approach testing the key support 701.00, noticing that the EMA50 provides the positive support to the price, while stochastic enters the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 726.80 as a next main station, taking into consideration that breaking 701.00 will put the price under negative pressure that its targets begin at 680.20.
The expected trading range for today is between 690.00 support and 720.00 resistance.
The expected trend for today: Bullish
Sugar price moves away from the support – Analysis - 22-07-2021
Sugar price ended yesterday with clear positivity to move away from 17.40, reinforcing the expectations of continuing the bullish trend, which depends on the price stability above the mentioned level, supported by the EMA50, reminding you that our main waited target reaches 18.20.
The expected trading range for today is between 17.40 support and 18.20 resistance
The expected trend for today: Bullish
Soybean price within a positive pattern – Analysis - 22-07-2021
Soybean price’s recent trades are confined within bullish pennant pattern that appears on the chart, which means that breaching 1395.00 will provide good positive motive that supports the expectations of continuing the bullish trend, which targets 1413.00 followed by 1433.70 levels mainly.
Therefore, the positive scenario will remain active for the upcoming period conditioned by the price stability above 1370.00.
The expected trading range for today is between 1365.00 support and 1415.00 resistance.
The expected trend for today: Bullish
Corn price faces solid resistance – Analysis - 22-07-2021
Corn price finds difficulty to surpass 571.50 level, to show some bearish bias and approach testing the key support 559.00, accompanied by stochastic reach to the oversold areas.
Therefore, we believe that the chances valid to resume the bullish trend in the upcoming sessions, and the next target reaches 584.10, noting that breaking 559.00 will stop the expected rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 555.00 support and 575.00 resistance.
The expected trend for today: Bullish