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Platinum loses is confined again – Analysis – 23-8-2021

Economies.com
2021-08-23 05:14AM UTC

Platinum price failed to decline below 949.80 support line, to force it to form clear positive rebound and move within tight track again, represented by the mentioned support and 1035.00 resistance.

 

Also, the contradiction between the major indicators confirms postponing the negative attack until testing the mentioned barrier followed by monitoring the price behavior to manage to confirm the next main trend.

 

The expected trading range for today is between 1035.00 and 975.00

 

The expected trend for today: Fluctuated within the bearish track

 

 

Copper price attempts to test the broken support – Analysis – 23-8-2021

Economies.com
2021-08-23 05:13AM UTC

Copper price ended the negative attack by recording 3.9600 level, forming correctional rebound and attempts to test the broken support near 4.2250, to form good resistance against the negative trades.

 

Also, the moving average 55 fluctuation above the mentioned resistance increases the chances of blocking trades within the bearish track, to keep waiting to gather the additional negative momentum and ease the mission of renewing the negative attempts and reach 4.0350 and 3.8800.

 

The expected trading range for today is between 4.2250 and 4.1000

 

The expected trend for today: Bearish

Wheat price continues to decline – Analysis - 23-08-2021

Economies.com
2021-08-23 04:29AM UTC

Wheat price declined clearly in the previous sessions to approach our waited target at 717.00, organized inside the bearish channel that appears on the chart, which supports the chances of surpassing the mentioned level to open the way to extend the correctional bearish wave to reach 696.80.

 

Therefore, the bearish trend scenario will remain valid and active for the upcoming period conditioned by the price stability below 741.90.

 

The expected trading range for today is between 710.00 support and 740.00 resistance.

The expected trend for today: Bearish

Sugar price approaches the first target – Analysis - 23-08-2021

Economies.com
2021-08-23 04:29AM UTC

Sugar price ended last Friday with strong negativity to approach our first waited correctional target at 19.72, and we expect to surpass this level to open the way to visit 19.16 as a next negative target.

 

Therefore, the negative scenario will remain valid and active for the upcoming period unless the price rallied to breach 20.60 and hold above it.

 

The expected trading range for today is between 19.40 support and 20.10 resistance

 

The expected trend for today: Bearish