The GBPJPY keeps its negative stability – Analysis – 16-9-2021
The GBPJPY pair settles below the resistance line and below the moving average 55, to keep the negative pressure valid for the upcoming period, waiting to head towards 149.85 mainly.
Holding below 151.95 keeps the bearish trend valid, noting that breaking the targeted level will push the price to start correctional bearish wave on the short term and medium term basis.
The expected trading range for today is between 150.30 and 152.00
The expected trend for today: Bearish
Platinum retests the broken support – Analysis – 16-9-2021
Platinum price retests the broken support at 949.00, which turns into key resistance now, as the price needs to hold below this level to keep the bearish trend valid on the intraday and short term basis, reminding you that its next main targets start at 900.00 followed by 860.00.
The expected trading range for today is between 920.00 and 960.00
The expected trend for today: Bearish
Copper price attempts to recover – Analysis – 16-9-2021
Copper price provided positive trades yesterday to settle above the bullish channel’s support line, to hint the attempt to regain the main bullish trend, but it needs to breach 4.4585 to confirm the continuation of the rise.
Therefore, we prefer to stay neutral until the price confirms breaching the mentioned resistance or breaking 4.3285 support, noting that breaching the resistance will push the price to achieve gains that start at 4.6350, while breaking the support will press on the price to start correctional bearish wave that targets 4.1500 followed by 4.0685 initially.
The expected trading range for today is between 4.1500 and 4.6000
The expected trend for today: Neutral
Wheat price reaches target – Analysis - 16-09-2021
Wheat price succeeded to reach our waited target at 717.00 and settles near it, noticing that the price surpassed the correctional bearish channel’s resistance to hint heading to achieve more expected rise in the upcoming period, noting that breaching the mentioned level will push the price to 741.90 as a next main station.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that breaking 711.00 will press on the price to decline towards 696.80 before determining the next trend clearly.
The expected trading range for today is between 705.00 support and 725.00 resistance.
The expected trend for today: Bullish