Platinum price surrenders to the indicators’ contradiction – Analysis – 21-6-2022
Platinum price confirmed surrendering to the domination of the sideways bias by settling above 920.00 support line recently, affected by the continuous contradiction between the major indicators, to keep the stability within the sideways track represented by the current support and 967.00 resistance.
These factors allow us to continue neutral, noting that breaking the support will assist to activate the negative track again, to expect suffering many losses that might start at 890.00 and 855.00 levels.
The expected trading range for today is between 920.00 and 965.00
The expected trend for today: Neutral
Copper price might postpone the decline – Analysis – 21-6-2022
Copper price failed to break 50% Fibonacci correction level at 3.9300 to form new support against the negative attempts and force it to form temporary sideways fluctuation.
We expect to continue forming sideways trades until gathering the additional negative momentum to manage to hold below 4.1800 level, waiting to break the current obstacle to ease the mission of reaching the additional negative stations by moving towards 3.8000 and 3.6800 levels.
The expected trading range for today is between 4.1000 and 3.9300
The expected trend for today: Sideways
Wheat price surpasses the target – Analysis - 21-06-2022
Wheat price succeeded to achieve our waited target at 1043.30, starting today with additional decline to break this level and settles below it, which supports the continuation of the correctional bearish trend domination, paving the way to head towards 972.80 as a next negative target.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 1043.30.
The expected trading range for today is between 990.00 support and 1060.00 resistance.
The expected trend for today: Bearish
Sugar price keeps its negative stability – Analysis - 21-06-2022
Sugar price ended the last session below 18.70 level, to keep the bearish trend scenario active, waiting for more decline to head towards 18.25 that represents our next main target.
Stochastic provides negative signals that support the expected decline, which will remain valid conditioned by the price stability below 18.70 and the most important below 19.16.
The expected trading range for today is between 18.00 support and 18.90 resistance
The expected trend for today: Bearish