Copper price continues to decline – Analysis – 24-6-2022
Copper price kept its negative stability to continue providing the negative trades, approaching 61.8% Fibonacci correction level at 3.6800, while the negativity is caused by the stability of 3.9300 barrier, in addition to stochastic consolidation within the oversold areas, to increase the negative pressures on the upcoming trades.
Note that succeeding to break 3.6800 and holding below it will reinforce the continuation of the negativity, to open the way to target new negative stations that might start at 3.5300.
The expected trading range for today is between 3.8200 and 3.6300
The expected trend for today: Bearish
Wheat price confirms the break – Analysis - 24-06-2022
Wheat price confirmed breaking 972.80 level, and trades with clear negativity to move away from this level, which supports the continuation of the expected bearish trend on the intraday and short term basis, which targets 915.20 followed by 885.50 levels as next main stations.
The bearish channel organizes the suggested bearish wave, which will remain valid conditioned by the price stability below 972.80.
The expected trading range for today is between 920.00 support and 965.00 resistance.
The expected trend for today: Bearish
Sugar price touches the target – Analysis - 24-06-2022
Sugar price managed to touch our first negative target at 18.25, expecting to open today negatively to break this level and rally towards our next station that reaches 17.70.
Therefore, the bearish trend scenario will remain valid supported by the negative pressure formed by the EMA50 unless breaching 18.70 and holding above it.
The expected trading range for today is between 17.80 support and 18.60 resistance
The expected trend for today: Bearish
Soybean price keeps declining – Analysis - 24-06-2022
Soybean price keeps providing the negative trades to approach our main waited target at 1402.10, and we suggest surpassing this level and suffer additional losses that reach 1318.20, as the price is affected by negative pattern that appears on the chart.
The EMA50 keeps supporting the suggested bearish wave, which will remain valid conditioned by the price stability below 1470.00.
The expected trading range for today is between 1380.00 support and 1480.00 resistance.
The expected trend for today: Bearish