Copper price repeated the fluctuation near 4.1700 resistance line, taking advantage of 4.0200 level forming additional support, and the major indicators that attempt to provide the positive momentum recently, while the price might provide more sideways fluctuation, to keep waiting to achieve the required breach and settle within the bullish channel again, followed by attempting to achieve many gains by rallying towards 4.3000 and 4.4400 levels.
The expected trading range for today is between 4.100 and 4.300
The expected trend for today: Bullish
Wheat price traded with strong positivity in the previous sessions, to retest the broken neckline of the double top pattern that appears on the chart, noticing that the price begins today with bearish bias in attempt to move away from the current resistance, to keep the bearish trend scenario active for the upcoming period, supported by stochastic negativity.
We remind you that our next main target is located at 662.20, while breaching 695.90 represents positive factor that will lead the price to achieve bullish correction that its targets begin by visiting 716.80 areas.
The expected trading range for today is between 670.00 support and 695.00 resistance.
The expected trend for today: Bearish
Sugar price finds difficulty to break 23.40 level, to show some temporary bullish bias, affected by stochastic positivity, and as long as the price is below 24.00, the correctional bearish scenario will remain active, depending on the formation of the double top pattern that appears on the chart, noting that the targets begin by breaking 23.40 to open the way to rally towards 22.80.
On the other hand, we should note that breaching 24.00 will stop the expected decline and push the price to resume the bullish wave again.
The expected trading range for today is between 23.00 support and 23.90 resistance
The expected trend for today: Bearish
Soybean price fluctuates around 1470.00 support line and attempts to break it, and by taking a deeper look at the chart, we find that the price is forming double top pattern that its confirmation line located at 1463.00, which means that breaking this level will push the price to achieve negative targets that reach 1420.00 areas.
Therefore, we suggest witnessing negative trades in the upcoming sessions, supported by moving below the EMA50, noting that breaching 1476.00 followed by 1486.00 levels will stop the negative scenario and lead the price to return to the bullish channel again.
The expected trading range for today is between 1445.00 support and 1485.00 resistance.
The expected trend for today: Bearish