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Wheat price hits the first target – Analysis - 17-11-2023
Wheat price succeeded to achieve our first waited target at 572.50, noticing that stochastic begins to lose the positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next target reaches 549.70.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 590.30 followed by 605.00 levels and hold above them.
The expected trading range for today is between 560.00 support and 585.00 resistance.
The expected trend for today: Bearish
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Sugar price attempts to consolidate above the support – Analysis - 17-11-2023
Sugar price continues to fluctuate around 26.74 level and attempts to hold above it, and stochastic continues to provide the positive signals, waiting to resume the bullish wave that targets 27.82 level as a next main station.
MoreSoybean price under the negative pressure – Analysis - 17-11-2023
Soybean price faced strong negative pressure yesterday, as it broke 1385.00 level and rallied bearishly to head towards potential visit to the bullish channel’s support line around 1332.60, making the bearish bias suggested in the upcoming sessions, and the price needs to break 1348.30 to confirm the continuation of the decline towards the expected target.
MoreCorn price achieves clear gains – Analysis - 17-11-2023
Corn price traded with clear positivity yesterday to surpass 487.90 level, but it loses the positive momentum to start providing calm negative trades, hinting heading to achieve potential decline in the upcoming sessions.
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