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Wheat price hits the first target – Analysis - 13-07-2023
Wheat price bounced downwards clearly yesterday to succeed achieving first waited target at 630.00, starting today with more bearish bias to confirm the continuation of the bearish trend domination, noting that our next targets start at 606.00 and extend to 580.20.
Therefore, the bearish trend scenario will remain valid and active, reminding you that holding below 668.50 represents key condition to achieve the suggested targets.
The expected trading range for today is between 610.00 support and 635.00 resistance.
The expected trend for today: Bearish
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Sugar price gets a positive close – Analysis - 13-07-2023
Sugar price ended yesterday above 23.50 level, noticing that the price completed forming double bottom pattern that we expect to motivate the price to provide more positive trades in the upcoming sessions, to target testing 24.30 level initially, noting that breaching it will push the price to 25.25 as a next positive station.
MoreSoybean price under the negative pressure – Analysis - 13-07-2023
Soybean price faced strong negative pressure yesterday, to break 1348.30 level and settle below it, to head towards achieving potential decline on the intraday basis, but we notice that stochastic shows clear positive signals now that might push the price to recover.
MoreCorn price resumes the decline – Analysis - 13-07-2023
Corn price provided new negative trades yesterday, to resume the expected bearish trend on the intraday and short-term basis, waiting to visit 467.00 followed by 435.60 levels as next main targets.
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