Copper price didn’t move until this moment, to continue facing stochastic negativity in order to keep its consolidation within the bullish track that depends on the stability of 4.0200 support line.
The sideways trades might continue until the price succeeds to gather the positive momentum to assist to activate the bullish track and start recording the targets by rallying towards 4.2200 followed by attempting to reach 23.6% Fibonacci correction level at 4.3000.
The expected trading range for today is between 4.0500 and 4.2200
The expected trend for today: Bullish
Wheat price provided additional negative trades yesterday to test the key support 695.90, which hints heading to break this level and stop the bullish correction that dominated the recent trades, making the bearish bias suggested in the upcoming sessions, noting that our next targets are located at 685.00 and 672.00.
Moving below the EMA50 supports the expected decline, taking into consideration that the consolidation of 695.90 level against the current negative pressure will lead the price to start new bullish wave that targets testing 716.80 level initially.
The expected trading range for today is between 685.00 support and 705.00 resistance.
The expected trend for today: Bearish
Sugar price rallied upwards strongly yesterday to approach our second waited target at 21.80, to support the continuation of the expected bullish trend scenario in the upcoming sessions, waiting to surpass the mentioned level to head towards 22.25.
The EMA50 continues to carry the price from below, reinforcing the expectations of continuing the suggested positive scenario, noting that holding above 21.20 represents the first positive condition to continue the bullish wave.
The expected trading range for today is between 21.45 support and 22.20 resistance
The expected trend for today: Bullish
Soybean price settles near 1470.00 level, consolidating above the EMA50, noticing that stochastic gets rid of its negative momentum to start the attempts to gather the positive momentum.
Therefore, we believe that the chances are valid to resume the expected bullish trend for the upcoming period, which its targets begin by surpassing 1470.00 to head towards 1500.00, reminding you that the continuation of the bullish wave requires holding above 1440.00.
The expected trading range for today is between 1445.00 support and 1480.00 resistance.
The expected trend for today: Bullish