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Platinum price rebounds bullishly – Analysis – 8-7-2022
Platinum price lost its negative momentum to keep its fluctuation above 855.00 level, attempting to cover some losses by rallying towards 880.00, also, stochastic surpasses 50 level to assist to reinforce the correctional bullish track and increase the chances of achieving temporary gains that might start at 890.00 followed by reaching the extended resistance at 925.00.
The expected trading range for today is between 860.00 and 900.00
The expected trend for today: Bullish temporarily
Copper price fluctuates within sideways track – Analysis – 8-7-2022
Copper price still stable within the bearish track until this moment, affected by forming solid barrier at 3.8500, in addition to the continuous negative momentum coming by the moving average 55, while the current sideways trades are caused by the contradiction of stochastic that rallies above 50 level, to force it to postpone the decline and provide temporary correctional trades that might push it to reach 3.6300 before recording any new negative target.
On the other hand, succeeding to gather the additional negative momentum will assist to activate the bearish track, to repeat the pressure on 3.3000 followed by attempting to touch the next main target at 3.1300.
The expected trading range for today is between 3.6000 and 3.3000
The expected trend for today: Bearish
Wheat price is recovering – Analysis - 08-07-2022
Wheat price provides additional positive trades to head towards expected test to 885.50 level, making the bullish bias suggested for today, noting that we expect bouncing bearishly after testing the mentioned level to resume the main bearish trend again.
On the other hand, we should note that breaking 820.50 will stop the suggested positive scenario and press on the price to achieve new negative targets that reach 744.40.
The expected trading range for today is between 830.00 support and 885.50 resistance.
The expected trend for today: Bullish
Sugar price surpasses the target – Analysis - 08-07-2022
Sugar price rallied upwards strongly yesterday to succeed achieving our waited target at 18.40, and breached it to settle above the bearish channel’s resistance, which leads the price to achieve more rise on the intraday and short term basis, on its way to visit 18.65 followed by 19.00 levels as next main stations.
Therefore, we expect the continuation of the bullish bias in the upcoming sessions unless breaking 18.30 and holding below it.
The expected trading range for today is between 18.30 support and 19.00 resistance
The expected trend for today: Bullish