The GBPJPY keeps the correctional bearish track – Analysis – 16-6-2022
No change to the GBPJPY pair’s correctional bearish track, due to its consolidation below 164.30 additional barrier, also, stochastic continuous fluctuation near 20 level will increase the chances of gathering the negative momentum in order to reinforce the negative track, to keep waiting to reach 162.40 and 160.80 levels.
On the other hand, succeeding to surpass the barrier and holding above it will allow the price to form bullish trades in order to resume the main bullish attack, to expect moving towards 165.40 followed by 167.00 levels.
The expected trading range for today is between 164.00 and 162.40
The expected trend for today: Bearish
Copper price repeats the negative closings – Analysis – 16-6-2022
Copper price still affected by the domination of the bearish bias due to the negative stability below 4.4300 resistance, to increase the chances of renewing the negative attack.
Note that stochastic attempt to exit the oversold areas might force the price to provide temporary sideways fluctuation until gathering the required negative momentum to reach the negative stations at 4.0500 and 3.9400.
The expected trading range for today is between 4.2600 and 4.0500
The expected trend for today: Bearish
Platinum price postpones the decline – Analysis – 16-6-2022
Platinum price failed to break 918.00 support line to postpone the negative attack and notice rallying towards 945.00, while the current trades might move within the sideways track between the mentioned support and 970.00 resistance.
Therefore, we will suggest the sideways trades again, to stay neutral until surpassing one of the major levels to manage to detect the next targets.
The expected trading range for today is between 920.00 and 970.00
The expected trend for today: Sideways
Wheat price loses momentum – Analysis - 16-06-2022
Wheat price shows some bullish bias to retest the broken support of the symmetrical triangle’s pattern, noticing that stochastic loses its positive momentum clearly, waiting to resume the negative trades to test 1043.30 level, reminding you that breaking this level will push the price to 972.80 as a next target.
Therefore, we will continue to suggest the bearish trend conditioned by the price stability below 1080.00, as breaching this level will push the price to test 1114.00 level before determining the next destination clearly.
The expected trading range for today is between 1020.00 support and 1085.00 resistance.
The expected trend for today: Bearish