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No news for platinum price – Analysis – 7-6-2022
Platinum price didn’t achieve any new positive level by fluctuating below the additional barrier 1040.00, to force it to form mixed trades recently, reminding you that our bullish overview will remain valid depending on the stability of 985.00 support line, to keep waiting to achieve the required breach to manage to reach the positive stations at 1075.00 and 1105.00 in the medium term period.
The expected trading range for today is between 990.00 and 1040.00
The expected trend for today: Bullish
Copper price didn’t confirm the breach – Analysis – 7-6-2022
Copper price failed to confirm breaching 4.4900 barrier, to force it to postpone the bullish attempts and start crawling negatively to settle near 4.4000, also, stochastic decline below 50 might assist to activate the negative trades to expect suffering intraday losses by moving towards 4.3100 and 4.1800 levels.
On the other hand, rallying above the mentioned barrier and getting positive close will assist to activate the bullish track again, to manage to achieve many gains by moving towards 4.6200 and 4.8100 levels.
The expected trading range for today is between 4.4500 and 4.3100
The expected trend for today: Bearish
Wheat price tests the resistance – Analysis - 07-06-2022
Wheat price continued to rise to test 1114.00 level and rebounds bearishly from there, as the EMA50 met this resistance to add more strength to it, while stochastic provides negative overlapping signals now.
Therefore, these factors encourage us to suggest the bearish bias for today, which its next main target located at 1043.30, reminding you that it is important to hold below 1114.00 to continue the expected decline.
The expected trading range for today is between 1050.00 support and 1114.00 resistance.
The expected trend for today: Bearish
Sugar price keeps its negative stability – Analysis - 07-06-2022
Sugar price attempted to breach 19.72 yesterday but it kept its consolidation below it, to keep the bearish trend scenario active until now, supported by stochastic loss to the positive momentum, waiting to test 19.16 initially.
Note that breaching 19.72 and holding above it will stop the suggested decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 19.10 support and 19.90 resistance
The expected trend for today: Bearish