Platinum price continues to decline – Analysis – 13-11-2023
Platinum price confirmed keeping the main bearish track to notice crawling below 61.8% Fibonacci correction level at 855.00, to approach the next negative target at 837.00.
The main stability within the bearish channel and the continuous negative momentum coming by the major indicators allow us to suggest more negative trades, to expect targeting 828.00 level soon, to form new additional support against the current trades.
The expected trading range for today is between 862.00 and 828.00
The expected trend for today: Bearish
Copper price moves away from the barrier – Analysis – 13-11-2023
Copper price succeeded to confirm the bearish scenario by providing new close near 3.5800, affected by the negativity of the MA55 that moves near 3.7300, also, stochastic moves within the oversold areas to increase the negative pressures, to keep waiting to attack 3.5000 support line, which breaking it will open the way to resume the negative attack, to expect moving towards 3.3700 direct.
The expected trading range for today is between 3.6100 and 3.5000
The expected trend for today: Bearish
Wheat price needs strong positive motive – Analysis - 13-11-2023
Wheat price shows more bearish bias to test the bullish trend line, located at 589.00 now, and the price needs to consolidate above this level to keep the bullish trend active, as breaking it represents negative factor that will push the price to resume the main bearish track again and stop the bullish correction that started from 549.70 areas.
Stochastic shows oversold signals that we are waiting to assist to push the price to rise in the upcoming sessions, noting that our positive targets start at 605.00 and extend to 617.00 followed by 639.30 as next main stations.
The expected trading range for today is between 584.00 support and 605.00 resistance.
The expected trend for today: Bullish
Sugar price tests the support again – Analysis - 13-11-2023
Sugar price ended last Friday with clear negativity to reach the key support 26.74 again, and as long as the price is above this level, the bullish trend scenario will remain valid and active, which its next target located at 27.82.
On the other hand, we should note that breaking 26.74 will stop the expected rise and push the price to return to the correctional bearish track again.
The expected trading range for today is between 26.60 support and 27.40 resistance
The expected trend for today: Bullish