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Copper price continues the negative crawling – Analysis – 20-5-2020
Copper price continued to provide the positive crawling in order to resume the correctional bullish attempts, taking advantage of the additional positive momentum due to stochastic reach to the overbought areas.
Therefore, we will keep waiting to touch 2.4530 barrier, reminding you that surpassing it will allow the price to record more targets that might start at 2.6200, also, we assure that importance of the support line stability at 2.2770 to avoid any losses that might appear due to changing the bullish trend.
The expected trading range for today is between 2.3500 and 2.4530
The expected trend for today: Bullish
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Wheat price gets a negative signal – Analysis - 20-05-2020
Wheat price did not show any strong move yesterday, to continue fluctuating around 500.00, therefore, no change to the bearish trend scenario that depends on the price stability below 503.70 and 507.00 levels, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 483.20.
MoreSugar price completes positive pattern – Analysis - 20-05-2020
Sugar price keeps its stability above 10.60, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass 11.45 to reach 12.16.
MoreSoybean price awaits negative motive – Analysis - 20-05-2020
Soybean price hovers around the EMA50, keeping its stability below the main bearish channel’s resistance that appears on the chart, and the price needs to get negative motive that assists to break the minor bullish channel’s support line at 838.00 to ease the mission of heading towards our negative targets that start at 816.30.
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