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Platinum price keeps the negativity – Analysis – 7-9-2022
Platinum price provided new negative close below 855.00 barrier, to confirm its affection by the domination of the bearish bias for the near term and medium term period, while we will keep waiting to gather the additional negative momentum to reinforce the continuation of the negativity that target 825.00 level first, and breaking this obstacle will move the price into new negative track, to expect suffering big losses that might start at 795.00 and 745.00.
We remind you that surpassing the mentioned barrier and getting positive close above it will confirm postponing the negative attack, to start suggesting the bullish attempts that might target 878.00 followed by reaching the main resistance at 925.00.
The expected trading range for today is between 855.00 and 795.00
The expected trend for today: Bearish
Copper price gets the negative momentum – Analysis – 7-9-2022
Copper price started to get the negative momentum by stochastic decline below 50 level, to support the domination of the previously suggested bearish bias and notice its fluctuation below 3.5000 barrier.
We expect to start forming new negative trades to manage to break 3.3000 level followed by waiting to achieve the next main target at 3.1300, which forms 61.8% Fibonacci correction level.
The expected trading range for today is between 3.5000 and 3.3000
The expected trend for today: Bearish
Wheat price around the moving average – Analysis - 07-09-2022
Wheat price hovers around the EMA50, and shows sideways and tight trades in the previous sessions, to keep the bearish trend scenario valid as it is without any change, which its next targets located at 760.00 followed by 744.40, noting that the continuation of the bearish wave requires holding below 836.60.
The expected trading range for today is between 790.00 support and 825.00 resistance.
The expected trend for today: Bearish
Sugar price touches the first target – Analysis - 07-09-2022
Sugar price succeeded to touch our first waited target at 17.80 and presses negatively on it, and we expect to surpass this level to open the way to extend the bearish wave towards 17.23.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price rallied to breach 18.13 and hold above it.
The expected trading range for today is between 17.30 support and 18.00 resistance
The expected trend for today: Bearish