Update: Gold price reaches the thresholds of the target
Gold price shows additional positive trades to approach our waited target at 2000.00, and it is important to monitor the price at this level, as breaching it will extend gold price gains to reach 2020.00 followed by 2050.00 as next main stations, while consolidating against the current rise will press on the price to rebound bearishly and head to test 1960.00 again.
Wheat price gathers the positive momentum – Analysis - 18-04-2022
Wheat price finds difficulty to consolidate above 1114.00 level, to trade below it, which urges caution form the upcoming trading, as holding below it will put the price under new negative pressure that targets testing 1043.30 level initially, while stepping above it will lead the price to resume the main bullish trend that its next target located at 1200.00.
Therefore, we prefer to stay aside until the price confirms its situation according to 1114.00 level.
The expected trading range for today is between 1080.00 support and 1120.00 resistance.
The expected trend for today: Neutral
Sugar price gets a positive motive – Analysis - 18-04-2022
Sugar price faced additional negative pressure yesterday to press on 20.00 level again, and returns to consolidate above it, accompanied by witnessing clear positive signals through stochastic, waiting to motivate the price to resume the main bullish trend, which its next target located at 20.63.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 19.72 and holding below it.
The expected trading range for today is between 19.90 support and 20.50 resistance
The expected trend for today: Bullish
Soybean price needs the positive momentum – Analysis - 18-04-2022
Soybean price hovers around the intraday bullish channel’s support line, getting continuous positive support by the EMA50, while stochastic begins the attempts to get rid of the negative momentum.
Therefore, we believe that the chances valid to continue the main bullish trend, which depends on the price stability above 1621.50, reminding you that our main waited targets begin at 1700.00 and extend to 1757.00.
The expected trading range for today is between 1645.00 support and 1700.00 resistance.
The expected trend for today: Bullish