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No change to copper price negativity – Analysis – 17-11-2023
Copper price didn’t move, fluctuating near 3.6900 level, keeping its bearish track that depends on the strength of 3.7400 barrier, assuring the importance or gathering the negative momentum again, to ease the mission of reaching the negative stations near 3.6200 and 3.5000.
We remind you that facing new positive pressures and surpassing the mentioned barrier will postpone the negativity for the now, to expect forming new bullish waves that might extend towards the key resistance at 3.8100 before touching any new negative target.
The expected trading range for today is between 3.7200 and 3.6200
The expected trend for today: Bearish
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Wheat price hits the first target – Analysis - 17-11-2023
Wheat price succeeded to achieve our first waited target at 572.50, noticing that stochastic begins to lose the positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next target reaches 549.70.
MoreSugar price attempts to consolidate above the support – Analysis - 17-11-2023
Sugar price continues to fluctuate around 26.74 level and attempts to hold above it, and stochastic continues to provide the positive signals, waiting to resume the bullish wave that targets 27.82 level as a next main station.
MoreSoybean price under the negative pressure – Analysis - 17-11-2023
Soybean price faced strong negative pressure yesterday, as it broke 1385.00 level and rallied bearishly to head towards potential visit to the bullish channel’s support line around 1332.60, making the bearish bias suggested in the upcoming sessions, and the price needs to break 1348.30 to confirm the continuation of the decline towards the expected target.
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