No news for Platinum – Analysis – 23-1-2020
No news for Platinum price until this moment, as it keeps fluctuating between the initial support 990.00 and 1025.00 resistance.
In general, the price consolidation within the bullish channel allows us to keep our bullish overview that requires breaching the current barrier to ease the mission of reaching the next main target at 1060.00.
The expected trading range for today is between 990.00 and 1060.00
The expected trend for today: Bullish
Copper price continues to decline – Analysis – 23-1-2020
Copper price faced additional negative pressures yesterday to renew the bearish attempts and approach the moving average 55 at 2.7200, also, stochastic continues to provide negative momentum signals to increase the chances of moving towards the bullish channel’s support line at 2.6950 to form the main target.
The expected trading range for today is between 2.8000 and 2.7000
The expected trend for today: Bearish
Wheat price faces negative pressure – Analysis - 23-01-2020
Wheat price bounced downwards clearly after testing 590.0 barrier, to approach the intraday bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, noticing that the EMA50 meets the mentioned channel’s support line to protect the continuation of trading inside it.
Therefore, these factors encourage us to suggest the bullish trend for the upcoming sessions, waiting to visit 596.0 level as a next main target, noting that breaking 569.0 will stop the expected rise and press on the price to achieve additional decline that targets testing the main bullish channel’s support line at 542.0 before any new attempt to rise.
The expected trading range for today is between 570.0 support and 590.0 resistance.
The expected trend for today: Bullish
Sugar price affected by the negative momentum – Analysis - 23-01-2020
Sugar price ended yesterday’s trading with bearish bias, affected by stochastic negativity, but as long as the price is above 14.14, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that our main waited target reaches 15.00.
The expected trading range for today is between 14.40 support and 14.75 resistance
The expected trend for today: Bullish