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Platinum price renews the positive action – Analysis – 5-8-2022
Platinum price returned to form new bullish waves to surpass 925.00 barrier and provide positive signal to manage to resume the correctional bullish attack by reaching 940.00.
The continuous stability above the breached barrier and stochastic additional positive momentum allow us to suggest more rise, expecting to attack 955.00 level, and attacking this level might extend trades towards 980.00.
The expected trading range for today is between 920.00 and 980.00
The expected trend for today: Bullish
Copper price takes advantage of stochastic positivity – Analysis – 5-8-2022
Copper price resisted the negative pressures recently to keep the positive stability within the correctional bullish track, to consolidate above 3.3500 and take advantage of stochastic positivity to rally towards 3.5200.
The continuous positive momentum will reinforce the chances of resuming the correctional bullish attack, to keep waiting to achieve the targets near 3.6300 followed by reaching 38.2% Fibonacci correction level at 3.8500.
The expected trading range for today is between 3.4500 and 3.6300
The expected trend for today: Bullish
Wheat price tests the channel’s resistance – Analysis - 05-08-2022
Wheat price provides positive trades to test the main bearish channel’s resistance, accompanied by witnessing clear negative signals through stochastic, waiting to motivate the price to resume the main bearish trend, which its next target located at 744.40.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 814.00.
The expected trading range for today is between 760.00 support and 815.00 resistance.
The expected trend for today: Bearish
Sugar price hits the first target – Analysis - 05-08-2022
Sugar price bounced bearishly after testing 18.00 level in the previous sessions, to achieve our first negative target at 17.60 and press negatively on it, waiting for more decline to visit 17.00 as a next target.
The EMA50 supports the suggested bearish wave, which will remain valid unless breaching 18.00 and holding above it.
The expected trading range for today is between 17.00 support and 17.90 resistance
The expected trend for today: Bearish