The GBPJPY hits the second target – Analysis – 22-9-2023
The GBPJPY pair formed new negative attack yesterday, taking advantage of the frequent stability below 183.20 level, to notice recording the second negative target by declining towards 180.75 followed by forming some correctional bullish rebound by moving towards 182.00.
Note that the frequent stability below 183.20 barrier and stochastic attempt to provide the negative momentum allow us to keep the negative overview, to expect targeting 180.40 level soon, followed by attempting to press on the additional support 179.35.
The expected trading range for today is between 182.40 and 180.40
The expected trend for today: Bearish
Platinum price keeps the bearish track – Analysis – 22-9-2023
Despite platinum price forming intraday positive rebound yesterday and consolidating near 925.00, that won’t affect the main bearish track due to the MA55 consolidation near the additional barrier at 950.00.
These factors allow us to wait to react to the negative pressures and ease the mission of holding below 920.00 level, followed by waiting to reach the additional negative stations at 880.00 and 855.00.
The expected trading range for today is between 940.00 and 890.00
The expected trend for today: Bearish
Copper price threats the support – Analysis – 22-9-2023
Copper price formed new bearish wave yesterday to threat the stability of the sideways track at 3.6700 and settles above it, and the price might provide some sideways fluctuation, while the continuous negative momentum coming by the major indicators might increase the chances of renewing the negative attempts, to expect breaking the current support and continue the negative attack to reach new stations that might start at 3.5000 and 3.3700.
The expected trading range for today is between 3.7700 and 3.5500
The expected trend for today: Bearish
Sugar price attempts to recover – Analysis - 22-09-2023
Sugar price shows some slight bullish bias, affected by stochastic positivity, while the correctional bearish trend scenario still suggested as long as 27.80 level remains intact, waiting to surpass 26.74 to confirm opening the way to head towards 26.08 as a next correctional target.
On the other hand, we should note that the continuation of the rise and breaching 27.80 will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 26.70 support and 27.40 resistance
The expected trend for today: Bearish