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Copper price is weak – Analysis – 8-9-2023
Copper price shows weak trades recently, settling near 3.7200 level, affected by the negativity of the MA55 that consolidates now below the sideways range’s resistance line at 3.9200, also, the continuous stability of the sideways range support line at 3.6500 decreases the chances of moving towards the bearish track.
These factors allow us to monitor the price behavior until surpassing one of the major levels to manage to detect the next targets, as breaching the resistance will open the way to record many gains that might start at 4.0200, while breaking the support and holding below it will force it to form strong negative waves, to suffer many losses by moving towards 3.5000 first.
The expected trading range for today is between 3.6700 and 3.8500
The expected trend for today: Sideways
Sugar price surpasses the resistance – Analysis - 08-09-2023
Sugar price rallied upwards yesterday to breach 26.80 level and close the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, opening the way to head towards 27.50 that represents our next main target.
MoreSoybean price resumes the decline – Analysis - 08-09-2023
Soybean price resumed its negative trading to approach our waited target at 1348.30, organized inside the bearish channel that appears on the chart, and we suggest breaking this level to open the way to achieve additional negative targets that extend to 1311.70.
MoreThe USDCHF needs new positive momentum – Analysis - 08-09-2023
The USDCHF pair shows some bearish bias by today’s open to head towards potential test to the key support base 0.8890, and as long as the price is above this level, our bullish overview will remain valid, reminding you that we are waiting to visit 0.8995 as a next main target.
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