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Platinum gains new momentum – Analysis – 21-7-2021
Platinum price gathered new negative momentum after stochastic reach to the oversold areas, to reinforce the domination of the bearish bias that depends on the stability of 1145.00 resistance.
Also, 1105.00 forms additional barrier to confirm blocking the price within the bearish track, waiting to reach 38.2% Fibonacci correction level at 1035.00, while surpassing it might extend losses in the upcoming period towards 980.00 and 947.00 levels.
The expected trading range for today is between 1085.00 and 1035.00
The expected trend for today: Bearish
Copper price repeats the pressure on the moving average – Analysis – 21-7-2021
No change to copper price correctional bearish track, as it keeps facing negative pressures, to notice providing clear pressure on the moving average 55 at 4.2100, while the stability of 4.4100 barrier supports our correctional bearish overview, to keep waiting to reach 4.0900 and test the bullish channel’s support line followed by monitoring its behavior due to the importance of this support to detect the next main trend.
The expected trading range for today is between 4.2850 and 4.0900
The expected trend for today: Bearish
Wheat price achieves good gains – Analysis - 21-07-2021
Wheat price provided clear positive trades yesterday but it returns to test 701.00, noticing that the price begins today with new rise to move away from the mentioned level, to keep the bullish trend scenario active on the intraday and short term basis, supported by the EMA50, reminding you that our next main target is located at 726.80.
On the other hand, we should note that breaking 701.00 will stop the expected rise and press on the price to decline towards 680.20 initially.
The expected trading range for today is between 695.00 support and 720.00 resistance.
The expected trend for today: Bullish
Sugar price settles above the support – Analysis - 21-07-2021
Sugar price returned to hold above 17.40, to reactivate the bullish trend scenario on the intraday and short term basis, waiting to head towards 18.20 as a next main target.
Stochastic provides positive signals that support the chances of heading towards the mentioned target, noting that holding above 17.40 is important to continue the expected rise.
The expected trading range for today is between 17.25 support and 17.90 resistance
The expected trend for today: Bullish