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Platinum price postpones the bullish rally – Analysis – 10-6-2022
Platinum price lost its positive momentum, affected by stochastic crawl towards 20 level, to notice forming negative wave recently and settle below the moving average 55 that formed additional support at 980.00.
Continuing to fluctuate below the broken support will force it to suffer additional losses, to expect crawling towards 950.00 followed by reaching the major support at 915.00.
The expected trading range for today is between 990.00 and 950.00
The expected trend for today: Bearish
Copper price gets the negative momentum – Analysis – 10-6-2022
Copper price got the negative momentum again, to activate the bearish track and crawl towards 4.3300, approaching the first waited target, reminding you that the stability of 4.4900 barrier forms major factor to confirm the continuation of the negativity, allowing us to suggest more negative trades that might target 4.1800 and 4.0500 levels.
The expected trading range for today is between 4.4300 and 4.2000
The expected trend for today: Bearish
Wheat price approaches the target – Analysis - 10-06-2022
Wheat price provided negative trades yesterday to approach our waited target at 1043.30, showing some bullish bias to head towards the EMA50 that forms good resistance against the intraday trades, accompanied by stochastic loss to the positive momentum clearly.
Therefore, we believe that the chances valid to resume the negative trades, waiting to test 1043.30 initially, reminding you that it is important to hold below 1114.00 to continue the expected decline.
The expected trading range for today is between 1040.00 support and 1100.00 resistance.
The expected trend for today: Bearish
Sugar price attempts to recover – Analysis - 10-06-2022
Sugar price traded with strong positivity to breach 19.16 and settles above it, to attempt to recover and achieve gains on the intraday basis, but it faces strong negative pressure formed by the EMA50, to hinder the positive attempts.
We prefer to stay aside temporarily until we get clearer signal for the next trend, through breaking 19.16 support or breaching 19.72 resistance, noting that breaking the mentioned support will push the price to decline again and head towards 18.70 as a next negative station, while breaching the resistance will lead the price to regain the main bullish trend again.
The expected trading range for today is between 19.00 support and 19.85 resistance
The expected trend for today: Neutral