Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Platinum price surrenders to the intraday positivity – Analysis – 7-2-2022

Economies.com
2022-02-07 05:01AM UTC

Platinum price shows clear weak trades due to the difficulty to breach 1040.00 barrier, forcing it to hold within the sideways track until this moment, to move near 1025.00.

 

On the other hand, the continuous stability above the additional support 1000.00 allows us to wait to surpass the barrier and manage to resume the bullish attack to move towards 1105.00 followed by reaching 23.6% Fibonacci correction level at 1053.00.

 

The expected trading range for today is between 1020.00 and 1070.00

 

The expected trend for today: Bullish

Wheat price is recovering – Analysis - 07-02-2022

Economies.com
2022-02-07 05:33AM UTC

Wheat price traded with strong positivity to breach 773.30 and settles above it, attempting to stop the negative effect of the head and shoulders’ pattern, which makes us suggest the continuation of the bullish bias in the upcoming sessions to test 811.50 level as a first positive target.

 

Therefore, the bullish trend will be expected for today unless breaking 773.30 and holding below it again.

 

The expected trading range for today is between 765.00 support and 790.00 resistance.

The expected trend for today: Bullish

Sugar price awaits the break – Analysis - 07-02-2022

Economies.com
2022-02-07 05:32AM UTC

Sugar price settles at 17.70 level, waiting to break this level to confirm extending the bearish wave towards 16.80.

 

Stochastic loses its positive momentum clearly to support the expected decline, to keep our bearish overview unless breaching 18.25 level and holding above it.

 

The expected trading range for today is between 17.20 support and 18.00 resistance

 

The expected trend for today: Bearish

Soybean price resumes the rise – Analysis - 07-02-2022

Economies.com
2022-02-07 05:32AM UTC

Soybean price resumes its positive trades after pressing on the bullish channel’s support line, to keep the bullish trend scenario active for the upcoming period, and the way is open to head towards our next main target that reaches 1600.00.

 

The EMA50 supports the expected rise, which will remain valid conditioned by the price stability above 1545.00.

 

The expected trading range for today is between 1555.00 support and 1595.00 resistance.

 

The expected trend for today: Bullish