Platinum price rebounds above the moving average again – Analysis – 1-2-2023
Platinum price lost its negative momentum yesterday, to form new positive wave and settle above the EMA50, to touch 1020.00 level, reminding you that the bearish scenario will remain valid depending on the strength of 1035.00 resistance, to keep waiting to gather the additional negative momentum to renew the bearish attack and target 985.00 followed by 965.00 levels.
The expected trading range for today is between 1025.00 and 985.00
The expected trend for today: Bearish
Copper price seeks the additional momentum – Analysis – 1-2-2023
Copper price provided temporary positive rebound yesterday, affected by the main stability within the bullish channel, to postpone the correctional bearish attack and settle near 4.2000 due to the lack of the additional negative momentum.
We remind you that it is important to hold below the additional barrier 4.3000 to increase the chances of gathering the negative momentum to manage to reach the next correctional target at 4.0200.
The expected trading range for today is between 4.2500 and 4.0200
The expected trend for today: Bearish
Wheat price resumes the rise – Analysis - 01-02-2023
Wheat price bounced upwards clearly after leaning on the intraday bullish channel’s support line, which supports the continuation of the expected bullish trend for the upcoming period, which targets testing 778.10 as a next station.
The EMA50 continues to support the suggested bullish wave, noting that it is important to hold above 752.40 to continue the expected rise.
The expected trading range for today is between 760.00 support and 780.00 resistance.
The expected trend for today: Bullish
Sugar price keeps achieving the positive targets – Analysis - 01-02-2023
Sugar price provided new strong positive trades to surpass our new target 20.50 and reach 2021 recorded high at 20.68, and we suggest surpassing this level to open the way to achieve more gains on the longer term basis, which reach 21.20 followed by 22.30.
Therefore, the bullish trend will remain valid and active, noting that breaking 20.20 will press on the price to start correctional bearish wave before turning back to rise again.
The expected trading range for today is between 20.40 support and 22.20 resistance
The expected trend for today: Bullish