Copper price presses on the support – Analysis – 22-6-2022
Copper price continued to provide weak sideways trades to settle near 3.9300 support line in order to find a way to resume the previously suggested negative attack, reminding you that the stability of 4.1800 barrier forms major factor to reinforce the negative attempts, which allows us to wait to achieve the required break to open the way to reach new negative stations that might start at 3.8000 followed by reaching 61.8% Fibonacci correction level at 3.6800.
The expected trading range for today is between 4.1000 and 3.8000
The expected trend for today: Bearish
Wheat price declines strongly – Analysis - 22-06-2022
Wheat price ended yesterday with strong negativity to reach the thresholds of the waited target at 972.80, and we expect the continuation of the negative pressure to break this level and open the way to suffer additional losses that reach 915.20 followed by 885.50.
Therefore, we expect to witness more decline in the upcoming sessions unless the price rallied to breach 1043.30 and hold above it.
The expected trading range for today is between 950.00 support and 1010.00 resistance.
The expected trend for today: Bearish
Sugar price shows mixed trades – Analysis - 22-06-2022
Sugar price provided clear positive trades yesterday but it stopped at the EMA50 that formed strong resistance against the price, to settle at 18.70 level, which keeps the chances valid to continue the recently suggested bearish trend scenario, waiting to break the last level to open the way to head towards 18.25.
Therefore, we will continue to suggest the bearish trend unless breaching 19.16 level and holding above it.
The expected trading range for today is between 18.20 support and 19.00 resistance
The expected trend for today: Bearish
Soybean price keeps achieving the negative targets – Analysis - 22-06-2022
Soybean price shows new negative trades by today’s open to succeed achieving our first extended target at 1510.00, moving inside bearish channel that supports the chances of continuing the bearish bias in the upcoming sessions, noting that our next target reaches 1470.00.
Therefore, the bearish trend scenario will remain valid and active conditioned by the price stability below 1537.60.
The expected trading range for today is between 1480.00 support and 1530.00 resistance.
The expected trend for today: Bearish