|
Copper price repeats the pressure on the support – Analysis – 18-8-2021
Copper price repeated the negative fluctuation to settle near the bullish channel’s support line at 4.2000, affected by stochastic reach to 20 level, while we need to monitor the price behavior today, as holding above the support will increase the chances of renewing the bullish attempts, remind you that it is important to surpass 4.4200 barrier to reinforce the continuation of the positivity for the upcoming trading.
On the other hand, crawling below the current support will cancel the positive overview to expect forming strong negative waves that might extend to 4.0860 initially.
The expected trading range for today is between 4.4200 and 4.2000
The expected trend for today: Bullish
Thanks for your feedback.
Wheat price exits the bullish track – Analysis - 18-08-2021
Wheat price continued to decline yesterday after confirming the stability below 768.00, to break the bullish channel’s support line and start bearish correction for the bullish wave measured from 611.40 to 782.20, as it tests 23.6% Fibonacci correction level at 741.90, noting that breaking this level will confirm opening the way to head towards the next correctional level at 717.00.
MoreSugar price begins bearish correction – Analysis - 18-08-2021
Sugar price found difficulty to hold above the main bullish channel’s resistance that appears on the chart, to end yesterday below it, which hints heading to start correctional bearish wave in the upcoming sessions, and we suggest targeting 19.72 areas initially.
MoreSoybean price declines again – Analysis - 18-08-2021
Soybean price provided negative trades yesterday to exit the intraday bullish channel that appears on the chart, which pushes the price to turn to decline and head to test 1328.50 followed by 1318.80 areas as main negative targets.
More