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Copper price fluctuates above the support – Analysis – 17-8-2021
Copper price failed to surpass 4.4200 barrier, to hinder the bullish rally and force it to form new sideways fluctuation, while the frequent stability above the bullish channel’s support line at 4.2630 allows us to wait to gather the required positive momentum to achieve the breach and reach the positive stations near 4.5100 and 4.6400.
Note that declining below the current support will cancel the positive overview, to expect forming strong negative waves that might extend towards 4.0860 initially.
The expected trading range for today is between 4.4600 and 4.3000
The expected trend for today: Bullish
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Wheat price keeps its positive stability – Analysis - 17-08-2021
Wheat price continues to fluctuate near 768.00 level, keeping its stability above it, to keep the bullish trend scenario valid and active for the upcoming period, which targets 790.00 followed by 800.00 levels mainly.
MoreSugar price approaches the second target – Analysis - 17-08-2021
Sugar price provided additional positive trades to approach our second waited target at 20.50, noticing that the price finds solid resistance there, which urges caution from the upcoming trading, as failing to surpass this level will force the price to rebound bearishly and test 20.00 initially, which breaking it represents the key to start bearish correction that its first main target reaches 19.00.
MoreSoybean price touches the first target – Analysis - 17-08-2021
Soybean price shows new positive trades by today’s open to touch our first waited target at 1380.00, waiting for more rise to surpass this level and head towards 1414.00 that represents our next target.
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