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Platinum price seeks the negative momentum – Analysis – 22-2-2023
Platinum price continued to provide correctional positive trades affected by the contradiction between the major indicators, to notice moving towards 949.00, reminding you that the frequent negative stability below 965.00 barrier forms major factor to confirm the domination of the bearish bias for the upcoming period, to keep waiting to target the negative stations near 880.00 and 855.00.
Surpassing the mentioned barrier and holding above it will postpone the decline by moving to the correctional bullish track, to attempt to cover some losses by moving towards 985.00 and 1010.00.
The expected trading range for today is between 952.00 and 905.00
The expected trend for today: Bearish
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Copper price records some gains – Analysis – 22-2-2023
Copper price started to take advantage of stochastic positivity by providing new bullish wave and record some gains by touching 4.2250, also, the frequent stability within the bullish channel will increase the chances of resuming the bullish attack in the near term period, to attempt to press on 4.3000 barrier, while surpassing it might extend trades towards 4.5100 as a next main target fort the bullish bias.
MoreWheat price hits the first target – Analysis - 22-02-2023
Wheat price traded with strong negativity to achieve our first waited target at 762.50 and attempts to break it, which supports the continuation of the expected bearish trend for the upcoming period, waiting to achieve additional negative targets that reach 752.00 followed by 742.00.
MoreSugar price tests the resistance – Analysis - 22-02-2023
Sugar price tested the resistance line that appears on the chart and keeps its stability below it, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the bearish trend that its targets begin by testing 19.55 level, noting that this level represents neckline for the double top pattern that appears on the chart, which means that breaking it will extend the bearish wave to target 18.50 areas on the near term basis.
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