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Copper price repeats the fluctuation near the support – Analysis – 18-8-2023
Copper price provided new sideways fluctuation to keep its stability near the key support 3.6400, to increase the threat of exiting the bullish track due to the continuous negative pressures that it faces until now.
We recommend to monitor the price behavior and wait the next close to manage to confirm the expected targets, as declining below the support and providing negative close will force it to target many negative stations that might start at 3.5000, while regaining the bullish bias requires forming strong positive rally to surpass the MA55 that forms additional barrier now at 3.8500.
The expected trading range for today is between 3.7200 and 3.5500
The expected trend for today: Sideways
Sugar price under the negative pressure – Analysis - 18-08-2023
Sugar price attempted to breach 24.30 level yesterday but it ended trades with clear negativity to settle below this level, which supports the chances of turning back to the correctional bearish track and head to achieve negative targets that start by testing 23.50 areas.
MoreSoybean price hits the target – Analysis - 18-08-2023
Soybean price succeeded to achieve our waited target at 1348.30 and attempts to breach it now, which supports the continuation of the correctional bullish trend, paving the way to head towards 1385.00 as a next main station.
MoreThe USDCHF tests the support – Analysis - 18-08-2023
The USDCHF pair is testing the key support 0.8775 now, and the EMA50 meets this support to add more strength to it, waiting to resume the bullish wave that targets 0.8825 initially, reminding you that surpassing this level will push the price to 0.8890 as a next positive station.
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