Platinum price renews the positive action – Analysis – 20-12-2023
Platinum price took advantage of the frequent stability above 925.00 key support to form new bullish wave and settle above 50% Fibonacci correction level at 950.00, to notice the beginning of achieving some gains by settling near 960.00.
Now, stochastic attempt to provide the additional positive momentum will increase the efficiency of the bullish track, to expect moving towards 983.00 target, while surpassing it will push the price to 1015.00 as a next main target.
The expected trading range for today is between 940.00 and 983.00
The expected trend for today: Bullish
Copper price rises slowly – Analysis – 20-12-2023
Copper price begins to react with the positive factors slowly, forming new positive wave and settle near 3.9000, expecting the MA55 to reinforce the stability of 3.7500 support line and stochastic attempt to provide the positive momentum to form more bullish attempts to target 4.0200 level soon, while surpassing it might extend trades towards 4.1800 as a next target for the near term and medium-term period.
The expected trading range for today is between 3.8500 and 4.0200
The expected trend for today: Bullish
Wheat price faces solid support – Analysis - 20-12-2023
Wheat price attempted to break the bearish flag pattern’s support line but it finds solid barrier there, noticing that stochastic shows clear overbought signals now, waiting to motivate the price to resume the negative trades that target 605.00 mainly.
Therefore, the bearish trend scenario will remain valid and active unless the price rallied to breach 639.30 and hold above it.
The expected trading range for today is between 610.00 support and 630.00 resistance.
The expected trend for today: Overall bearish
Sugar price tests the resistance – Analysis - 20-12-2023
Sugar price shows some bullish bias to test the key resistance at 21.35, affected by stochastic positivity, waiting to resume the bearish wave that targets 20.45 followed by 19.82 levels as next main stations.
Therefore, we will continue to suggest the bearish trend unless breaching 21.35 and holding with a daily close above it.
The expected trading range for today is between 20.50 support and 21.40 resistance
The expected trend for today: Bearish