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Platinum begins with new negativity – Analysis – 18-8-2021
Platinum price started with new negativity, settling below 38.2% Fibonacci correction level, to form additional barrier at 1035.00, noticing its move towards 991.00, approaching the previously waited first negative target.
Also, stochastic exit from the overbought areas will increase the chances of gathering the negative momentum, to manage to resume the negative attempts and expect targeting 945.00 level soon, to form the second target of the bearish bias.
The expected trading range for today is between 1035.00 and 950.00
The expected trend for today: Bearish
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Copper price repeats the pressure on the support – Analysis – 18-8-2021
Copper price repeated the negative fluctuation to settle near the bullish channel’s support line at 4.2000, affected by stochastic reach to 20 level, while we need to monitor the price behavior today, as holding above the support will increase the chances of renewing the bullish attempts, remind you that it is important to surpass 4.4200 barrier to reinforce the continuation of the positivity for the upcoming trading.
MoreWheat price exits the bullish track – Analysis - 18-08-2021
Wheat price continued to decline yesterday after confirming the stability below 768.00, to break the bullish channel’s support line and start bearish correction for the bullish wave measured from 611.40 to 782.20, as it tests 23.6% Fibonacci correction level at 741.90, noting that breaking this level will confirm opening the way to head towards the next correctional level at 717.00.
MoreSugar price begins bearish correction – Analysis - 18-08-2021
Sugar price found difficulty to hold above the main bullish channel’s resistance that appears on the chart, to end yesterday below it, which hints heading to start correctional bearish wave in the upcoming sessions, and we suggest targeting 19.72 areas initially.
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