Platinum price provided some sideways fluctuation recently by settling near 1005.00, affected by the contradiction between the major indicators, to force it to postpone the main bearish attack temporarily, while the frequent stability below 1040.00 barrier allows us to wait to gather the additional negative momentum to ease the mission of resuming the previously suggested decline, to record the next negative target at 965.00.
On the other hand, rallying above the mentioned barrier will postpone the negative attack and open the way to form correctional bullish waves, to target 1072.00.
The expected trading range for today is between 1025.00 and 985.00
The expected trend for today: Bearish
Copper price kept its stability above 3.5600 support line, forming some correctional bullish waves by touching 3.7800 level, followed by affected by stochastic exit from the overbought areas to rebound towards 3.7000 quickly.
The contradiction between the major indicators against the frequent stability above the mentioned support confirms surrendering to the domination of the sideways bias, to keep waiting to gather the required positive momentum to achieve the next positive target at 3.8500.
The expected trading range for today is between 3.6500 and 3.8000
The expected trend for today: Bullish
Wheat price managed to achieve our waited target at 629.00, and opened today with additional rise to breach this level and settles above it, paving the way to achieve additional gains that reach 665.00 areas.
Therefore, we are waiting for more expected rise in the upcoming sessions, supported by moving above the EMA50, taking into consideration that breaking 629.00 and holding below it will stop the bullish trend and push the price to return to the bearish track again.
The expected trading range for today is between 625.00 support and 650.00 resistance.
The expected trend for today: Bullish
Sugar price continues to decline to reach the thresholds of the waited target at 24.30, which represents 38.2% Fibonacci correction level for the rise measured from 20.22 to 26.80, thus, breaking it will extend the bearish wave to reach 23.50 areas.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 25.25 and hold above it.
The expected trading range for today is between 24.30 support and 24.90 resistance
The expected trend for today: Bearish