No change to copper price bullish track, due to the frequent stability above the moving average 55 at 4.3300, while the intraday negativity is caused by stochastic exit from the overbought areas, which allows us to suggest more sideways fluctuation until gathering the additional positive momentum to manage to resume achieving the positive targets around 4.5200 and 4.6200.
The expected trading range for today is between 4.3300 and 4.5200
The expected trend for today: Bullish
Wheat price reached few pips from our waited negative target at 773.30 and bounced bullishly from therefore, to support the expectations of resuming the main bullish trend after the temporary decline that it witnessed in the previous sessions, waiting to test 811.50 as a first positive target.
Therefore, we expect to witness more rise in the upcoming period unless breaking 773.30 and holding below it.
The expected trading range for today is between 775.00 support and 810.00 resistance.
The expected trend for today: Bullish
Sugar price keeps its stability above 18.70, to keep the bullish trend scenario valid and active on the intraday basis, supported by the positive signal provide by stochastic now, waiting to resume the positive trades that target 19.16 followed by 19.70 levels as next main stations.
The expected trading range for today is between 18.60 support and 19.25 resistance
The expected trend for today: Bullish
Soybean price didn’t show any strong move yesterday, to fluctuate around 1365.00, waiting to get strong positive motive to assist to push the price to breach 1380.00 and open the way to continue the bullish trend, which targets 1400.00 followed by 1433.70 levels as next main stations.
The EMA50 continues to support the suggested bullish wave, which will remain valid conditioned by the price stability above 1347.00.
The expected trading range for today is between 1345.00 support and 1390.00 resistance.
The expected trend for today: Bullish