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Wheat price presses negatively – Analysis - 07-02-2024
Wheat price shows new negative trades to press on the triangle’s support line that confines the recent trades, falling under negative pressure formed by the EMA50 against the intraday trades, while stochastic approaches to overlap negatively
Therefore, these factors encourage us to suggest the bearish bias for today, and the negative targets begin at 580.00, noting that breaching 605.00 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 585.00 support and 605.00 resistance.
The expected trend for today: Bearish
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Sugar price faces continuous negative pressures – Analysis - 07-02-2024
Sugar price continues to press on the key support 22.60, noticing that the price forms triple top pattern that its signs appear on the chart, which means that breaking 22.70-22.60 levels will push the price to turn to decline, but we notice that the technical indicators provide positive signals to protect the price from suffering more losses.
MoreSoybean price begins negatively – Analysis - 07-02-2024
Soybean price opens today’s trading negatively to move away from the bearish channel’s resistance line that appears on the chart, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, and we believe that the way is open to achieve our main waited target at 1171.50.
MoreCorn price approaches the target – Analysis - 07-02-2024
Corn price traded with clear negativity yesterday to approach the waited target at 442.90, and the way seems open to surpass this level and open the way to achieve additional negative targets that reach 435.00 followed by 425.00 areas.
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