No change to Copper price bullish track as it keeps its stability within the bullish channel, in addition to forming additional support at 4.4200, therefore, we will keep waiting to get the positive momentum by the major indicators to ease the mission of breaching 4.6300 barrier to manage to resume the bullish attack and record new targets that might start at 4.7200 and 4.8600.
The expected trading range for today is between 4.4200 and 4.6300
The expected trend for today: Bullish
Wheat price provided clear positive trades to move away from 701.00 level, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on the chart, and the way is open to achieve our next positive target at 726.80.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 701.00 and holding below it.
The expected trading range for today is between 705.00 support and 725.00 resistance.
The expected trend for today: Bullish
Sugar price ended last Friday’s trading with strong decline to break 18.20 and settles below it, which makes us stay aside until we get clearer signal for the next trend through monitoring today’s open.
Note that holding below the mentioned level will press on the price to achieve more decline that targets 17.25 areas on the near term basis, while stepping above it will reactivate the bullish trend scenario that its next target located at 19.00.
The expected trading range for today is between 17.70 support and 18.50 resistance
The expected trend for today: Neutral
Soybean price bounced downwards clearly after testing the bearish channel’s resistance, to move within this channel and head towards achieving negative targets that we expect to start by testing 1318.80 level, making the bearish bias suggested for today.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price rallied to breach 1375.00 and hold above it.
The expected trading range for today is between 1320.00 support and 1370.00 resistance.
The expected trend for today: Bearish