Gold price rallied upwards to surpass our waited target at 1703.25 and attempts to hold above it, which supports the expectations of extending the bullish wave on the short term and medium term basis, reminding you that our next target reaches 1770.00, supported by the EMA50 that keeps carrying the price from below, noting that holding above 1703.25 represents initial condition to conitnue the current bullish rally.

Brent oil price declined clearly since this to touch our first waited target at 30.97, waiting for more decline to break this level and open the way to achieve our next target that reaches 29.75, to keep the bearish trend valid for the rest of the day supported by the EMA50, conditioned by the price stability below 32.50.

Crude oil price resumes its negative trading after testing 24.50 barrier this morning, to keep the bearish trend scenario valid and active in the upcoming sessions, waiting to break 22.10 to ease the mission of heading towards our negative targets that reach 19.27, reminding you that it is important to hold below 24.50 and 25.60 levels to continue the expected decline.

Wheat price breached 557.30 level clearly and settles above it, to activate the bullish trend scenario on the intraday and short term basis, on its way to regain the main bullish trend, which its positive targets begin at 575.00 and extend to 590.50.

The EMA50 provides the positive support to the price, reinforcing the chances of achieving more gains in the upcoming period, taking into consideration that breaking 557.30 and trading below it again will put the price under negative pressure that its targets begin by testing 536.80.

The expected trading range for today is between 557.00 support and 575.00 resistance.

The expected trend for today: Bullish