The GBPJPY loses the positive momentum – Analysis – 24-6-2022
The GBPJPY pair kept the chances of forming additional correctional trades by settling below 166.00, also, stochastic exit from the overbought areas assist to provide the negative momentum to keep our negative overview until reaching 164.10 that forms the first main target of the bearish bias.
The expected trading range for today is between 166.00 and 164.10
The expected trend for today: Bearish temporarily
Copper price continues to decline – Analysis – 24-6-2022
Copper price kept its negative stability to continue providing the negative trades, approaching 61.8% Fibonacci correction level at 3.6800, while the negativity is caused by the stability of 3.9300 barrier, in addition to stochastic consolidation within the oversold areas, to increase the negative pressures on the upcoming trades.
Note that succeeding to break 3.6800 and holding below it will reinforce the continuation of the negativity, to open the way to target new negative stations that might start at 3.5300.
The expected trading range for today is between 3.8200 and 3.6300
The expected trend for today: Bearish
Platinum price achieves the break – Analysis – 24-6-2022
Platinum price took advantage of the frequent negative pressures by forming new bearish wave to settle below the key support 920.00, to hint moving to the bearish track by achieving 906.00 level.
The above chart shows stochastic attempt to crawl towards the oversold areas, to increase the chances of gathering the negative momentum, to continue suggesting the negative attempts until reaching 890.00 and 855.00 levels.
The expected trading range for today is between 925.00 and 860.00
The expected trend for today: Bearish
Wheat price confirms the break – Analysis - 24-06-2022
Wheat price confirmed breaking 972.80 level, and trades with clear negativity to move away from this level, which supports the continuation of the expected bearish trend on the intraday and short term basis, which targets 915.20 followed by 885.50 levels as next main stations.
The bearish channel organizes the suggested bearish wave, which will remain valid conditioned by the price stability below 972.80.
The expected trading range for today is between 920.00 support and 965.00 resistance.
The expected trend for today: Bearish