Platinum price provides positive signal – Analysis – 21-11-2023
Platinum price extended upwards strongly this morning, attempting to surpass the bearish channel’s resistance at 920.00, to hint the preparation to move towards the bullish track again.
Note that it is important to confirm breaching the current resistance to settle above the MA55 in order to gain new positive momentum followed by starting to target the positive stations by moving towards 934.00 soon, followed by attacking 50% Fibonacci correction level at 950.00.
The expected trading range for today is between 915.00 and 934.00
The expected trend for today: Bullish
Copper price tends towards the positivity – Analysis – 21-11-2023
Copper price started to form strong bullish attack since succeeding to surpass 3.7400 level, to notice rallying towards 3.8100, attempting to confirming moving to the bullish track, as the stability above the breached key resistance at 3.7900 and the positive momentum coming by the major indicators allow us to expect resuming the bullish attack, to target 38.2% Fibonacci correction level at 3.8600 followed by 3.9200 as a next station.
The expected trading range for today is between 3.7700 and 3.8600
The expected trend for today: Bullish
Wheat price completes negative pattern – Analysis - 21-11-2023
Wheat price provided new negative trades yesterday to complete forming double top pattern that its signs appear on the chart, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, reminding you that our next main target is located at 549.70.
The EMA50 supports the suggested bearish wave, noting that breaching 572.00 followed by 581.40 levels will stop the expected decline and lead the price to recover on the intraday basis.
The expected trading range for today is between 560.00 support and 575.00 resistance.
The expected trend for today: Bearish
Sugar price gets the positive motive – Analysis - 21-11-2023
Sugar price managed to breach the falling wedge’s resistance to activate the positive effect of this pattern and rally bullishly to resume the bullish wave, reinforcing the expectations of continuing the rise on the intraday and short-term basis, reminding you that we are waiting to visit 27.82 as a next main target.
Stochastic provides positive signal that supports the expectations to rise, reminding you that it is important to hold above 24.74 to achieve the waited targets.
The expected trading range for today is between 26.80 support and 27.70 resistance
The expected trend for today: Bullish