Copper price might postpone the decline – Analysis – 21-6-2022
Copper price failed to break 50% Fibonacci correction level at 3.9300 to form new support against the negative attempts and force it to form temporary sideways fluctuation.
We expect to continue forming sideways trades until gathering the additional negative momentum to manage to hold below 4.1800 level, waiting to break the current obstacle to ease the mission of reaching the additional negative stations by moving towards 3.8000 and 3.6800 levels.
The expected trading range for today is between 4.1000 and 3.9300
The expected trend for today: Sideways
Wheat price surpasses the target – Analysis - 21-06-2022
Wheat price succeeded to achieve our waited target at 1043.30, starting today with additional decline to break this level and settles below it, which supports the continuation of the correctional bearish trend domination, paving the way to head towards 972.80 as a next negative target.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 1043.30.
The expected trading range for today is between 990.00 support and 1060.00 resistance.
The expected trend for today: Bearish
Sugar price keeps its negative stability – Analysis - 21-06-2022
Sugar price ended the last session below 18.70 level, to keep the bearish trend scenario active, waiting for more decline to head towards 18.25 that represents our next main target.
Stochastic provides negative signals that support the expected decline, which will remain valid conditioned by the price stability below 18.70 and the most important below 19.16.
The expected trading range for today is between 18.00 support and 18.90 resistance
The expected trend for today: Bearish
Soybean price hits the target – Analysis - 21-06-2022
Soybean price succeeded to achieve our waited target at 1537.60 and attempts to break it, to support the chances of extending the bearish wave on the intraday and short term basis, to head towards declining and achieve additional targets that start at 1510.00 followed by 1470.00.
The EMA50 supports the continuation of the expected bearish trend, organized inside the bearish channel that appears on the chart, noting that failing to break 1537.60 will lead the price to attempt to recover and achieve positive targets that start at 1574.00 and extend to 1621.90.
The expected trading range for today is between 1500.00 support and 1560.00 resistance.
The expected trend for today: Bearish