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Copper price records some gains – Analysis – 22-2-2023
Copper price started to take advantage of stochastic positivity by providing new bullish wave and record some gains by touching 4.2250, also, the frequent stability within the bullish channel will increase the chances of resuming the bullish attack in the near term period, to attempt to press on 4.3000 barrier, while surpassing it might extend trades towards 4.5100 as a next main target fort the bullish bias.
We notice the consolidation of the moving average 55 near the bullish channel’s support line at 3.9300, to confirm confining the price within the bullish track and increase the chances of reaching the waited targets.
The expected trading range for today is between 4.1000 and 4.3000
The expected trend for today: Bullish
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Wheat price hits the first target – Analysis - 22-02-2023
Wheat price traded with strong negativity to achieve our first waited target at 762.50 and attempts to break it, which supports the continuation of the expected bearish trend for the upcoming period, waiting to achieve additional negative targets that reach 752.00 followed by 742.00.
MoreSugar price tests the resistance – Analysis - 22-02-2023
Sugar price tested the resistance line that appears on the chart and keeps its stability below it, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the bearish trend that its targets begin by testing 19.55 level, noting that this level represents neckline for the double top pattern that appears on the chart, which means that breaking it will extend the bearish wave to target 18.50 areas on the near term basis.
MoreSoybean price surpasses the resistance – Analysis - 22-02-2023
Soybean price managed to breach 1537.60 level and hold with a daily close above it, starting today with more bullish bias to move away from this level, which supports the continuation of the expected bullish trend scenario efficiently for the upcoming period, opening the way to visit 1580.00 followed by 1595.00 levels as next main targets.
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