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Platinum price approaches the target – Analysis – 2-5-2023
Platinum price resumed its negative attack to approach the negative target at 1040.00, taking advantage of the negative momentum caused by stochastic reach to the oversold areas.
Also, 1070.00 level attempt to form additional barrier will increase the chances of breaking 1040.00 level and reach the additional stations that might start at 1022.00 followed by reaching the MA55 at 1005.00.
The expected trading range for today is between 1065.00 and 1025.00
The expected trend for today: Bearish
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No news for copper price – Analysis – 2-5-2023
No news for copper price until this moment due to the lack of the negative momentum, to notice testing the MA55 at 3.9700 and holding below it, reminding you that the stability of the additional barrier 4.0200 forms major factor to confirm the domination of the bearish bias for the upcoming trading, which allows us to wait to gather the negative momentum to manage to form new bearish waves to target the main negative stations near 3.7000 and 3.5000.
MoreWheat price keeps declining – Analysis - 02-05-2023
Wheat price resumes its negative trading yesterday, reinforcing the expectations of continuing the main bearish trend, which targets 600.00 followed by 575.00 levels as next main stations.
MoreSugar price under the negative pressure – Analysis - 02-05-2023
Sugar price ended yesterday with strong negativity, to approach the bullish channel’s support line that appears on the chart, and we prefer to stay neutral until the price confirms its situation according to this channel’s support at 25.15 to detect its next destination clearly.
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