The GBPJPY declines slowly – Analysis – 30-1-2023
The GBPJPY pair renews the negative waves to move away from the additional barrier 162.10, noticing its crawl towards 160.25 now to confirm its surrender to the domination of the bearish bias as suggested previously.
Stochastic attempt to provide the negative momentum will support the chances of resuming the decline, to press on 159.40 obstacle followed by extending trades towards the next target at 158.60.
The expected trading range for today is between 161.00 and 159.30
The expected trend for today: bearish
Platinum price hits the moving average – Analysis – 30-1-2023
Platinum price approached the first negative target at 990.00 on last Friday, to face the moving average 55, which forced it to rebound towards 1020.00 temporarily.
We remind you that the bearish scenario will remain valid as long as the price continues to provide the negative closings below 1035.00 resistance, which allows us to wait to gather the negative momentum and resume the decline to move towards 965.00 that forms the first main target of the bearish track.
The expected trading range for today is between 1030.00 and 975.00
The expected trend for today: Bearish
Copper price repeats the negative closings – Analysis – 30-1-2023
Despite copper price recent weak trades, the frequent consolidation below the bullish channel’s resistance at 4.3750 supports our correctional bearish overview for the near term and medium term period, to notice its consolidation at 4.2000 now.
Stochastic continuous negative momentum signals will assist to form new bearish waves to manage to crawl below 4.1500 level and reach the next main target at 4.0500.
The expected trading range for today is between 4.3000 and 4.0500
The expected trend for today: Bearish
Wheat price needs new positive motive – Analysis - 30-01-2023
Wheat price shows more bullish bias, organized inside bullish channel that supports the chances of achieving our positive targets that extend to 778.10.
The EMA50 continues to support the price from below to reinforce the positive overview, which will remain valid conditioned by the price stability above 750.50.
The expected trading range for today is between 750.00 support and 775.00 resistance.
The expected trend for today: Bullish