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Platinum price prepares for new decline – Analysis – 7-7-2022
Platinum price provided some sideways trades recently to settle near 860.00, affected by the stability of 61.8% Fibonacci correction level that forms temporary obstacle at 850.00.
Now, stochastic attempt to crawl towards the oversold areas allows us to expect renewing the negative attempts, to keep waiting to break the mentioned obstacle and manage to resume the decline to reach the negative stations near 825.00 and 790.00.
The expected trading range for today is between 875.00 and 825.00
The expected trend for today: Bearish
Copper price attempts to cover some losses – Analysis – 7-7-2022
Copper price touched new negative level yesterday by reaching 3.2750, to rebound towards 3.4900 and attempt to cover some losses, affected by stochastic exit from the oversold areas.
We expect to form some temporary positive waves to allow the price to move towards 3.6300 followed by attempting to renew the negative attack, to increase the chances of achieving the main target at 3.1300 in the near term period.
The expected trading range for today is between 3.6000 and 3.3000
The expected trend for today: Bearish
Wheat price continues to decline – Analysis - 07-07-2022
Wheat price shows some bullish bias to test the minor resistance 830.00, noticing that stochastic loses its positive momentum clearly, which supports the chances of resuming the bearish trend that its next main target reaches 744.40.
The EMA50 continues to support the expected bearish wave, which will remain valid unless the price rallied to breach 885.50 and hold above it.
The expected trading range for today is between 790.00 support and 850.00 resistance.
The expected trend for today: Bearish
Sugar price achieves intraday gains – Analysis - 07-07-2022
Sugar price ended yesterday positively to settle around 18.00, to hint heading to achieve intraday gains that target testing the most important resistance at 18.40 before turning back to decline again.
Therefore, we expect to witness more rise in the upcoming sessions supported by stochastic positivity, noting that failing to surpass 18.00 will press on the price to resume the main bearish trend that its next target reaches 17.00.
The expected trading range for today is between 17.70 support and 18.40 resistance
The expected trend for today: Bullish temporarily