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Platinum price touches the second target – Analysis – 29-6-2023

Economies.com
2023-06-29 05:48AM UTC

Platinum price resumed the negative attack to achieve the next negative target at 900.00, confirming its surrender to the domination of the previously suggested bearish bias, while the current positive rebound is caused by stochastic exit from the oversold areas, providing chances to gain the additional negative momentum now.

 

The frequent stability below 965.00 barrier allows us to keep the bearish overview, expecting to gather the additional momentum to reach new negative stations that might start 878.00 and 855.00.

 

The expected trading range for today is between 930.00 and 878.00

 

The expected trend for today: Bearish

Copper price touches the first target – Analysis – 29-6-2023

Economies.com
2023-06-29 05:47AM UTC

Copper price continued to provide the negative trades to settle near the first negative target at 3.7000, confirming its affection by the frequent negative pressures, as the MA55 continues to form the additional barrier by settling near 3.8500, in addition to stochastic reach to the oversold areas, allowing us to suggest more negative attempts, waiting to attack the key support 3.6000 followed by monitoring the price behavior to manage to detect the next trend.

 

Note that breaking the targeted support and holding below it will confirm moving to the next negative level, forcing it to suffer more losses, to expect moving towards 50% Fibonacci at 3.4900 initially.

 

The expected trading range for today is between 3.7650 and 3.6000

 

The expected trend for today: Bearish

Wheat price hits the target – Analysis - 29-06-2023

Economies.com
2023-06-29 04:03AM UTC

Wheat price continued to decline to touch our main waited target at 668.50 and settles there, and we suggest the continuation of the bearish bias to surpass this level and open the way to continue the decline on the intraday and short term basis, to head towards visiting 630.00 areas as a next main target.

 

On the other hand, we should note that failing to break 668.50 will push the price to build bullish wave that its targets begin by testing 703.50 followed by 723.10 areas.

 

The expected trading range for today is between 645.00 support and 690.00 resistance.

 

The expected trend for today: Bearish

Sugar price surpasses the support – Analysis - 29-06-2023

Economies.com
2023-06-29 04:03AM UTC

Sugar price managed to break 22.75 level and closed the daily candlestick below it, to support the expectations of continuing the bearish trend and head towards achieving more expected decline in the upcoming period, targeting visiting 21.80 level mainly.

 

Therefore, our bearish overview will remain valid and active, noting that breaching 22.75 will push the price to start recovery attempts that target testing 23.50 before any new negative attempt.

 

The expected trading range for today is between 22.00 support and 22.80 resistance

 

The expected trend for today: Bearish