The GBPJPY settles within temporary sideways range – Analysis – 24-11-2021
The GBPJPY pair formed temporary sideways trades due to the contradiction between the main stability within the bullish channel and the consolidation of 154.50 barrier, expecting to form new negative fluctuation in order to press on the moving average 55 at 152.80, while breaking it might extend losses towards 152.00 to test the main bullish channel’s support line.
On the other hand, breaching the mentioned barrier and holding above it will confirm regaining the bullish bias, to expect forming strong positive rally and start recording many gains by moving towards 155.20 and 156.00 levels.
The expected trading range for today is between 154.50 and 152.80
The expected trend for today: Bearish
Platinum price suffers additional losses – Analysis – 24-11-2021
Platinum price resumed its negative attack by declining below 1010.00 level, to notice suffering additional losses and approaching 50% Fibonacci correction level at 950.00.
We expect to form sideways fluctuation to keep the consolidation within the bearish track that depends on the stability of 1040.00 barrier, also, we should note that succeeding to break 950.00 will force the price to target new negative levels that might extend towards 920.00 in the medium term period.
The expected trading range for today is between 1000.00 and 950.00
The expected trend for today: Bearish
Copper price begins with positive action – Analysis – 24-11-2021
Copper price succeeded to form new bullish wave, to surpass 4.4000 level and confirm its affection by the bullish bias domination, also, the fluctuation of the moving average 55 below the current trades confirm blocking the price within the bullish track, to keep our bullish overview that might target 4.5200 and 4.6400 levels.
The expected trading range for today is between 4.3800 and 4.5200
The expected trend for today: Bullish
Wheat price achieves additional gains – Analysis - 24-11-2021
Wheat price provided new positive trades yesterday to surpass the bullish channel’s resistance line that appears on the chart, reinforcing the expectations of continuing the main bullish trend, waiting to visit 887.00 as a next main station.
Holding above 850.00 represents initial condition to continue the expected rise, noting that surpassing the targeted level will push the price to 900.00 areas.
The expected trading range for today is between 860.00 support and 885.00 resistance.
The expected trend for today: Bullish