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Wheat price loses momentum – Analysis - 11-09-2023
Wheat price continues the calm decline to settle below 600.00 barrier, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, noticing that stochastic continues to lose the positive momentum, to support the expectations of achieving more decline.
Therefore, the bearish trend scenario will remain valid and active, which its next target located at 580.20, noting that it is important to hold below 613.00 as a first condition to continue the expected decline.
The expected trading range for today is between 585.00 support and 605.00 resistance.
The expected trend for today: Bearish
Sugar price faces negative pressure – Analysis - 11-09-2023
Sugar price finds difficulty to consolidate above 26.80 level, as it ended last Friday with clear negativity, which urges caution from the upcoming trading, as the price needs to consolidate above 26.20 to keep the bullish trend scenario active for the upcoming period, which targets 27.50 areas mainly.
MoreSoybean price attempts positively – Analysis - 11-09-2023
Soybean price shows positive trades by today’s open to move above the intraday bearish channel’s resistance, but we notice that stochastic lost its positive momentum clearly, which supports the chances of resuming the expected bearish trend on the intraday basis, which targets testing 1348.30 mainly.
MoreCorn price within continuation pattern – Analysis - 11-09-2023
Corn price’s recent trades are confined within symmetrical triangle that appears on the chart; thus, the price needs to break 480.00 to get negative motive that assist to rally towards our main negative target at 435.60.
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