Copper price surrendered to the stability of the sideways track support line at 3.7400, to move towards 3.8100 barrier and settle below it, hinting its surrender to the domination of the sideways bias.
We expect to get positive momentum by stochastic to increase the pressure on the mentioned barrier to ease the mission to move to the bullish track by targeting 3.8600 level direct, and might extend to 4.0200 in the near term period.
The expected trading range for today is between 3.7500 and 3.8600
The expected trend for today: Bullish
Wheat price provided clear positive trades to test the key resistance 572.00, accompanied by stochastic loss to the positive momentum witnessing clear overbought signals, while the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, we expect to witness negative trades in the upcoming sessions as long as 572.00 level remains intact, reminding you that our waited targets begin at 549.70 and extend to 540.00 after breaking the previous level.
The expected trading range for today is between 560.00 support and 576.00 resistance.
The expected trend for today: Bearish
Sugar price bounced bearishly after testing 26.74 level in the previous sessions, to keep the bearish trend valid for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 26.08.
Holding below 26.74 is important to continue the expected decline, as breaching it represents the key to regain the main bullish trend again.
The expected trading range for today is between 26.10 support and 26.74 resistance
The expected trend for today: Bearish
Soybean price ended yesterday with clear positivity to breach 1348.30 and settles above it, which pushes the price back to the bullish track to head towards achieving gains that reach 1385.00 on the intraday basis.
Therefore, the bullish bias will be suggested for today, and breaching 1356.20 will ease the mission to rise, taking into consideration that breaking 1348.30 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 1330.00 support and 1375.00 resistance.
The expected trend for today: Bullish