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Platinum approaches the resistance – Analysis – 14-1-2021

Economies.com
2021-01-14 06:02AM UTC

Platinum price provided new positive rally yesterday to reach 1100.00 and keep its stability below the main resistance at 1125.00, thus, we will keep our correctional bearish overview, assuring the importance of gathering the additional negative momentum to ease the mission of reaching 1025.00 and 950.00 levels in the near term and medium term period.

 

We remind you that succeeding to breach the mentioned resistance and holding above it will confirm moving into new bullish track, to start suggesting targeting new positive levels that might extend to 1180.00 and 1255.00 levels.

 

The expected trading range for today is between 1100.00 and 975.00

 

The expected trend for today: Bearish

No news for Copper price – Analysis – 14-1-2021

Economies.com
2021-01-14 06:01AM UTC

No news for Copper price that keeps fluctuating near 3.5750 support line, due to the lack of the positive momentum, assuring the importance of holding above the current support to decrease the chances of suffering any unexpected losses, waiting to gather the positive momentum to ease the mission of reaching the positive targets at 3.7200 and 3.7900.

 

The expected trading range for today is between 3.5800 and 3.7200

 

The expected trend for today: Bullish

Wheat price approaches the positive target – Analysis - 14-01-2021

Economies.com
2021-01-14 04:55AM UTC

Wheat price showed strong rise yesterday and approached our waited positive target at 684.10, but it bounced downwards strongly to achieve bearish correction for the rise measured from 566.80 to 679.40, as it leaned on 23.6% Fibonacci correction level and begins to recover now, which encourages us to suggest the bullish bias in the upcoming sessions, which its next main target located at 687.00.

 

Breaching 663.50 will ease the mission of achieving the waited positive targets, while breaking 652.80 represents negative factor that will press on the price to achieve more bearish correction.

 

The expected trading range for today is between 650.00 support and 680.00 resistance.

The expected trend for today: Bullish

Sugar price breaches the resistance – Analysis - 14-01-2021

Economies.com
2021-01-14 04:55AM UTC

Sugar price breached 15.02 level clearly and closed the daily candlestick above it, to reactivate the main bullish trend scenario again, on its way to achieve more gains that target 15.62 followed by 16.00 levels as next main stations.

 

Therefore, the bullish bias will be expected for today supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 14.80.

 

The expected trading range for today is between 15.00 support and 15.60 resistance

 

The expected trend for today: Bullish