Wheat price is retesting – Analysis - 20-10-2021
Wheat price retests the breached neckline of the inverted head and shoulders’ pattern and keeps its stability above it until now, getting positive support by stochastic and the EMA50, waiting to resume the positive trades in the upcoming sessions to head towards 756.00 followed by 766.50 levels as next main stations.
Holding above 741.90 is important to continue the expected rise, as breaking it will press on the price to return to the bearish track again.
The expected trading range for today is between 740.00 support and 755.00 resistance.
The expected trend for today: Bullish
Sugar price keeps achieving the negative targets – Analysis - 20-10-2021
Sugar price managed to break 19.16 and declined to approach our extended target at 18.70, noticing that the price is affected by the double top pattern that we expect to push the price to surpass the last level and head towards 18.25 as a next negative target.
Therefore, the bearish bias will remain dominant in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that holding below 19.16 represents the first condition to continue the suggested bearish wave.
The expected trading range for today is between 18.30 support and 19.16 resistance
The expected trend for today: Bearish
Sugar price keeps achieving the negative targets – Analysis - 20-10-2021
Sugar price managed to break 19.16 and declined to approach our extended target at 18.70, noticing that the price is affected by the double top pattern that we expect to push the price to surpass the last level and head towards 18.25 as a next negative target.
Therefore, the bearish bias will remain dominant in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that holding below 19.16 represents the first condition to continue the suggested bearish wave.
The expected trading range for today is between 18.30 support and 19.16 resistance
The expected trend for today: Bearish
Soybean price touches the first target – Analysis - 20-10-2021
Soybean price succeeded to achieve our first target at 1245.00 and faces solid resistance there, noticing that stochastic attempts to gather the positive momentum, waiting to motivate the price to resume the positive trades to surpass the mentioned level and head towards 1270.00 as a next station.
Therefore, we will keep our bullish overview on the intraday basis conditioned by the price stability above 1225.90.
The expected trading range for today is between 1225.00 support and 1250.00 resistance.
The expected trend for today: Bullish