Platinum moves within tight track – Analysis – 24-1-2020
Platinum price continued to form additional sideways trading due to its move within the sideways range represented by the initial support at 990.00 and 1025.00 against the attempts to resume the bullish attack.
The continuous positive momentum signals by the major indicators allow us to continue suggesting the bullish attempts, waiting to surpass the current barrier to ease the mission of reaching the next positive target at 1060.00.
The expected trading range for today is between 990.00 and 1060.00
The expected trend for today: Bullish
Copper price approaches the support – Analysis – 24-1-2020
Copper price continues to form correctional bearish trades to approach the main bullish channel’s support line at 2.6950, attempting to record the previously suggested target.
Note that it is important to monitor the price behavior due to the importance of the current support line to detect the next main target, as its stability will increase the chances of renewing the bullish attack to target 2.7800 initially, while crawling below this support will confirm moving to new negative track to suffer many losses that start at 2.6250.
The expected trading range for today is between 2.6950 and 2.7800
The expected trend for today: Bullish
Wheat price within tight track – Analysis - 24-01-2020
Wheat price settles near the bullish channel’s support line that appears on the chart, noticing that the EMA50 continues to provide the positive support to the price, to keep the bullish trend scenario valid and active for the upcoming period, waiting to head towards 596.00 that represents our next main target.
We should note that breaking 570.00 would stop the expected rise and press on the price to test the main bullish channel’s support line at 544.00 before any new attempt to rise.
The expected trading range for today is between 570.00 support and 590.00 resistance.
The expected trend for today: Bullish
Sugar price faces new negative pressure – Analysis - 24-01-2020
Sugar price returns to decline after recording new top at 14.75 yesterday, as the price is affected by stochastic negativity, which attempts to gain positive momentum that we are waiting to assist to push the price to rise again.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 14.14 level and holding below it, reminding you that our main waited target reaches 15.00.
The expected trading range for today is between 14.35 support and 14.75 resistance
The expected trend for today: Bullish