No change to platinum price correctional bullish track until this moment by settling near 933.00, confirming postponing the previously suggested negative attack, reminding you that the stability of the additional barrier at 950.00 will form solid obstacle against the positive attempts, allowing us to waiting to gather the negative momentum again and ease the mission of activating the bearish track and decline towards 880.00 followed by reaching the main negative target at 855.00.
The above chart shows the MA55 approach to the additional barrier to confirm confining trades within the previously suggested negative track, also, stochastic reach to the overbought areas confirms the beginning of getting rid of the positive pressures, to provide chances to gather the required negative momentum to achieve the mentioned negative targets.
The expected trading range for today is between 950.00 and 910.00
The expected trend for today: Bearish
Copper price still waiting to exit the sideways bias, to notice forming continuous sideways trades recently, settling near 3.7500, as the continuous stability of the dominating barriers represented by 3.6700 support and 3.9000 resistance allows us to stay neutral until confirming the next trend.
We remind you that declining below the mentioned support and providing negative close confirm the domination of the bearish bias for the upcoming period, to expect targeting 3.5000 as a first negative station, while breaching the resistance will confirm moving to the bullish track, waiting to record big gains that might start at 4.0200 and 4.3100.
The expected trading range for today is between 3.8700 and 3.7000
The expected trend for today: Neutral
Wheat price bounced downwards clearly yesterday to break the intraday bullish channel’s support line that appears on the chart, which forms bearish flag pattern that puts the price under expected negative pressure on the intraday basis, targeting testing 580.20 initially, noting that breaking this level will push the price to 560.00 as a next negative station.
Therefore, we suggest the continuation of the bearish bias in the upcoming sessions unless the price managed to breach 600.00 and hold above it.
The expected trading range for today is between 570.00 support and 600.00 resistance.
The expected trend for today: Bearish
Sugar price tested 26.80 level and bounced upwards clearly from there, to resume the expected bullish trend on the intraday and short-term basis, which targets 28.00 areas as a next main station.
The technical indicators provide positive signals that support the continuation of the expected bullish trend, which will remain valid unless breaking 26.80 followed by 26.20 levels and holding below them.
The expected trading range for today is between 27.00 support and 27.80 resistance
The expected trend for today: Bullish