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Copper price still positive – Analysis – 2-8-2022
Despite copper price intraday decline below 3.5000 level, that won’t affect the correctional bullish track that depends on the major support at 3.1300, also, stochastic rally above 50 level allows us to wait to gather the positive momentum to manage to achieve the correctional targets at 3.6300 followed by 3.8500 levels.
The expected trading range for today is between 3.3500 and 3.6300
The expected trend for today: Bullish
Wheat price breaks the support – Analysis - 02-08-2022
Wheat price provided clear negative trades yesterday to manage to break 804.00 level and hold below it, which supports the continuation of the expected bearish trend scenario for the upcoming period, which its next main target located at 744.40.
MoreSugar price attempts to recover – Analysis - 02-08-2022
Sugar price ended yesterday with clear positivity after the attempt to return to the bearish channel that appears on the chart, affected by stochastic positivity, while the EMA50 keeps pressing negatively on the price, waiting to resume the bearish wave that its next target located at 17.00.
MoreSoybean price hits the first negative target – Analysis - 02-08-2022
Soybean price declined strongly yesterday to succeed achieving our waited target at 1402.10, noticing that the price begins today with additional negativity to attack the mentioned level, opening the way to continue the decline and head to achieve additional negative targets that reach 1355.00 followed by 1318.20.
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