Platinum price gathers its strength – Analysis – 31-3-2023
Platinum price failed to reach 1005.00 barrier, to fluctuate near the MA55 again at 980.00 again, attempting to gather more required positive momentum to resume the bullish attack in the upcoming period.
We remind you that the bullish scenario will remain valid as long as 950.0 support line remains intact, while succeeding to breach the mentioned barrier will open the way to achieve many gains, to expect moving towards 1040.00 and 1072.00 levels initially.
The expected trading range for today is between 960.00 and 1005.00
The expected trend for today: Bullish
No news for copper price – Analysis – 31-3-2023
Copper price didn’t move until this moment, to continue facing stochastic negativity in order to keep its consolidation within the bullish track that depends on the stability of 4.0200 support line.
The sideways trades might continue until the price succeeds to gather the positive momentum to assist to activate the bullish track and start recording the targets by rallying towards 4.2200 followed by attempting to reach 23.6% Fibonacci correction level at 4.3000.
The expected trading range for today is between 4.0500 and 4.2200
The expected trend for today: Bullish
Wheat price presses on the support – Analysis - 31-03-2023
Wheat price provided additional negative trades yesterday to test the key support 695.90, which hints heading to break this level and stop the bullish correction that dominated the recent trades, making the bearish bias suggested in the upcoming sessions, noting that our next targets are located at 685.00 and 672.00.
Moving below the EMA50 supports the expected decline, taking into consideration that the consolidation of 695.90 level against the current negative pressure will lead the price to start new bullish wave that targets testing 716.80 level initially.
The expected trading range for today is between 685.00 support and 705.00 resistance.
The expected trend for today: Bearish
Sugar price reaches the second target – Analysis - 31-03-2023
Sugar price rallied upwards strongly yesterday to approach our second waited target at 21.80, to support the continuation of the expected bullish trend scenario in the upcoming sessions, waiting to surpass the mentioned level to head towards 22.25.
The EMA50 continues to carry the price from below, reinforcing the expectations of continuing the suggested positive scenario, noting that holding above 21.20 represents the first positive condition to continue the bullish wave.
The expected trading range for today is between 21.45 support and 22.20 resistance
The expected trend for today: Bullish