Platinum price keeps the positivity – Analysis – 5-1-2022
No change to platinum price bullish track despite the recent weak trades, while the stability of 925.00 support line and stochastic positive momentum signals allow us to keep the bullish overview.
We expect to move towards 1000.00 level soon, to press on the moving average 55, while breaching this obstacle will push the price to reach new positive stations that might start at 1040.00 and 1070.00.
The expected trading range for today is between 950.00 and 1000.00
The expected trend for today: Bullish
Copper price attempts to recover – Analysis – 5-1-2022
Copper price started to get the positive momentum, to attempt to recover and start the bullish track again, to notice settling near 4.4200 now, while the bullish scenario depends on the stability of the additional support at 4.3300 that represents the moving average 55.
Therefore, we will keep waiting to touch the first target at 4.5200, while surpassing it will push the price to reach the next station at 4.6200.
The expected trading range for today is between 4.3800 and 4.5200
The expected trend for today: Bullish
Wheat price retests the broken support – Analysis - 05-01-2022
Wheat price provided positive trades yesterday to retest 773.30 level, keeping its stability below it until now, noticing that stochastic shows clear negative signals now, waiting to motivate the price to resume the negative trades and head towards 742.30 mainly.
Therefore, we will continue to suggest the bearish trend unless breaching 773.30 level and holding above it.
The expected trading range for today is between 750.00 support and 775.00 resistance.
The expected trend for today: Bearish
Soybean price surpasses the resistance – Analysis - 05-01-2022
Soybean price succeeded to breach 1380.00 level and hold above it, to support the continuation of our bullish overview efficiently for the upcoming period, which gets continuous support by the EMA50, waiting to visit 1400.00 followed by 1433.70 levels mainly.
Holding above 1380.00 represents initial condition to continue the expected rise, as breaking it might press on the price to achieve intraday bearish correction before turning back to rise again.
The expected trading range for today is between 1370.00 support and 1410.00 resistance.
The expected trend for today: Bullish