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Wheat price within symmetrical pattern – Analysis - 01-03-2024
Wheat price shows new negative trades, facing weak positive momentum, noticing that the price is confined inside symmetrical triangle that appears on the chart, and we prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 565.80 support or breaching 583.70 resistance.
Note that breaking the mentioned support will push the price to resume the main bearish trend and achieve negative targets that start at 549.70, while breaching the resistance represents the key to start recovery attempts that target testing 593.00 followed by 605.00 levels as next main stations.
The expected trading range for today is between 565.00 support and 580.00 resistance.
The expected trend for today: Neutral
Sugar price resumes the decline – Analysis - 01-03-2024
Sugar price bounced downwards strongly yesterday, to approach our waited target at 21.35, and the way seems open to surpass this level and open the way to achieve additional negative targets that reach 20.60 as a next negative station.
MoreSoybean price tests the support – Analysis - 01-03-2024
Soybean price tested the key support 1131.40 without managing to break it, to remain confined between the trend keys represented by the mentioned support and 1160.00 resistance, which makes us continue with our neutrality until the price manages to confirm breaching one of these levels.
MoreCorn price loses momentum – Analysis - 01-03-2024
Corn price reached the thresholds of the waited target at 433.50, noticing that the price is facing weak positive momentum, which hints the possibility of stopping the bullish wave and head to resume the main bearish track again, which makes us prefer to stay aside until we get clearer signal for the next trend.
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