The GBPJPY presses on the support – Analysis – 22-9-2021
The GBPJPY pair didn’t succeed to resume the bullish attack, to notice renewing the pressure on the bullish channel’s support line at 149.15, affected by stochastic negativity.
The next scenario depends on the strength of the current support, to expect forming strong bullish trades that might extend towards 150.55 and 151.30, while crawling below the support confirms moving to the bearish track, to expect suffering big losses by moving towards 148.60 and 147.90.
The expected trading range for today is between 149.00 and 150.55
The expected trend for today: Bullish
Platinum tests the barrier – Analysis – 22-9-2021
Platinum price formed strong correctional bullish rally yesterday, agreeing stochastic positivity, to push the price to test 50% Fibonacci correction level at 960.00.
The stability of the current barrier allows us to wait to gather the negative momentum to ease the mission of renewing the negative attempts, to repeat the attempts to reach the negative stations at 930.00 and 900.00.
The expected trading range for today is between 960.00 and 930.00
The expected trend for today: Bearish
Copper price still bearish – Analysis – 22-9-2021
Copper price started to provide some correctional bullish trades, affected by the strength of 4.000 support line, in addition to stochastic exit from the oversold areas, thus, we expect more positive fluctuation until succeeding to gather additional negative momentum to manage to renew the main bearish attack that might target 3.8750 in the near term period.
The risks of the attempt to breach 4.4200 resistance line will open the way to achieve positive gains that might start at 4.5100 and 4.6300.
The expected trading range for today is between 4.2800 and 4.000
The expected trend for today: Bearish
Wheat price surpasses the target – Analysis - 22-09-2021
Wheat price managed to surpass our first waited target at 696.80 and holds below it, reinforcing the expectations of extending the correctional bearish wave, which targets 676.60 as a next main station.
The bearish channel supports the expectations to continue the bearish trend on the intraday and short term basis, noting that the expected decline requires holding below 696.80 and 704.50 levels.
The expected trading range for today is between 680.00 support and 700.00 resistance.
The expected trend for today: Bearish