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Wheat price keeps declining – Analysis - 04-08-2022
Wheat price shows more bearish bias to keep approaching our waited negative target at 744.40, reinforcing the expectations of continuing the bearish trend, supported by the negative pressure formed by the EMA50.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 820.00 will stop the suggested negative scenario and lead the price to test 885.50 areas before any new attempt to decline.
The expected trading range for today is between 750.00 support and 800.00 resistance.
The expected trend for today: Bearish
Sugar price tests the resistance again – Analysis - 04-08-2022
Sugar price provided clear positive trades yesterday to test the key resistance 18.00, and the EMA50 met this resistance to add more strength to it, to keep its stability below this level and keep the main bearish trend scenario active, waiting to resume the bearish wave that targets 17.60 followed by 17.00 levels as next main stations.
MoreSoybean price breaks key support – Analysis - 04-08-2022
Soybean price traded with clear negativity in the previous sessions to break the intraday bullish channel’s support line that appears on the chart and settles below it, reinforcing the expectations of continuing the bearish trend on the intraday basis, opening the way to achieve our negative targets that start at 1355.00 and extend to 1318.20.
MoreCorn price crawls downwards – Analysis - 04-08-2022
Corn price continues to decline to move below 600.00 barrier, reinforcing the expectations of continuing the bearish trend, which targets 575.00 as a next station, noting that breaking this level will extend the bearish wave to reach 550.00 as a next target.
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