The GBPJPY attempts to end the correctional decline – Analysis – 14-6-2022
The GBPJPY pair formed new correctional bearish wave yesterday to touch 162.2 level and form additional support against the negative attempts, to start forming bullish rally and touch 164.30 level.
Note that regaining the bullish bias requires holding positively above 164.80 level, to manage to form strong bullish waves that might push it to reach 165.60 and 167.00 levels, while failing to breach this barrier will force it to continue fluctuating negatively within chances of suffering additional losses that might extend towards 161.60 and 160.55.
The expected trading range for today is between 162.70 and 165.60
The expected trend for today: Bullish
Platinum price continues to crawl negatively – Analysis – 14-6-2022
Platinum price crawled below 950.00 level, to assist to confirm the domination of the suggested bearish bias, reminding you that it is important to monitor the price behavior after reaching the main support at 4.1800, as breaking this level will confirm moving to new bearish track to start targeting new negative levels that start at 880.00 and 855.00.
Now, stochastic crawl towards the oversold areas allows us to expect gathering the additional negative momentum, to assist to confirm the bearish scenario and achieve the required break to reach the suggested additional stations.
The expected trading range for today is between 960.00 and 918.00
The expected trend for today: Bearish
Copper price repeats the negative attempts – Analysis – 14-6-2022
Copper price has no escape from resuming the negative attack, due to facing frequent negative pressures, to notice its fluctuation near the initial support 4.1800, expecting to get negative momentum by stochastic to achieve the required break and manage to reach new negative stations that might start at 4.0500 and 3.9300.
Note that the consolidation of the moving average 55 near 4.4400 resistance confirms blocking trades within the bearish track, to increase the chances of achieving the required break.
The expected trading range for today is between 4.3000 and 4.0500
The expected trend for today: Bearish
Wheat price within continuation pattern – Analysis - 14-06-2022
Wheat price’s recent trades are confined within symmetrical triangle’s support that appears on the chart, thus, breaking 1062.00 will provide negative motive that supports the expectations of continuing the bearish trend, which its targets begin at 1043.30 and extend to 972.80 after breaking the previous level.
Therefore, we will continue to suggest the bearish trend unless breaching 1114.00 and holding above it.
The expected trading range for today is between 1030.00 support and 1100.00 resistance.
The expected trend for today: Bearish