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Platinum price loses the positive momentum – Analysis – 4-8-2022
Platinum price reinforced the chances of renewing the negative attempts by settling below 925.00 resistance, in addition to the lack of the positive momentum by stochastic decline below 50 level, which will force it to suffer some losses by moving towards 875.00 and 855.00 levels.
On the other hand, succeeding to breach the mentioned resistance and getting positive close will assist to reinforce the chances of resuming the correctional bullish attack, to attempt to reach 950.00 and 980.00 levels.
The expected trading range for today is between 925.00 and 855.00
The expected trend for today: Bearish
Copper price still bullish – Analysis – 4-8-2022
Despite copper price recent negative wave, that won’t affect the correctional bullish track that depends on the stability of the major support at 3.1300, also, stochastic continuous attempt to provide the positive momentum might assist to renew the positive attempts that might target 3.6300 followed by waiting to reach 38.2% Fibonacci correction level at 3.8500.
MoreWheat price keeps declining – Analysis - 04-08-2022
Wheat price shows more bearish bias to keep approaching our waited negative target at 744.40, reinforcing the expectations of continuing the bearish trend, supported by the negative pressure formed by the EMA50.
MoreSugar price tests the resistance again – Analysis - 04-08-2022
Sugar price provided clear positive trades yesterday to test the key resistance 18.00, and the EMA50 met this resistance to add more strength to it, to keep its stability below this level and keep the main bearish trend scenario active, waiting to resume the bearish wave that targets 17.60 followed by 17.00 levels as next main stations.
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