The GBPJPY takes breath – Analysis – 12-11-2020
The GBPJPY pair started to form correction bearish rebound in attempt to take a breath before resuming the bullish attack, expecting to test 138.20 that forms the double bottom neckline that supports the continuation of the positivity for the upcoming trading.
These factors allow us to keep the bullish overview, noting that it is important to rally above 139.40 level soon to open the way to record new positive targets that might extend towards 140.60 and 141.35 levels.
The expected trading range for today is between 138.60 and 140.60
The expected trend for today: Bullish
Platinum resists the negative pressures – Analysis – 12-11-2020
Platinum price started to face strong negative pressures due to stochastic crawl below 50 level, in addition to its current stability below the moving average 55, while its positive stability above 38.2% Fibonacci correction level at 837.40 supports the positive overview, reminding you that the targets located at 905.00 and 980.00.
The expected trading range for today is between 850.00 and 905.00
The expected trend for today: Bullish
Copper price holds above the support – Analysis – 12-11-2020
No change to Copper price bullish track as it remains stable positively above 3.1250 support line, to increase the chances of recording temporary positive targets by rallying towards 3.2100 followed by reaching the key resistance 3.2730.
On the other hand, facing new negative pressures and crawling below the current support will push the price back to the bearish track, to start forming strong negative attack and expect targeting 2.9500 and 2.9000 levels.
he mentioned barrier and reach the first additional target at 2.8800.
The expected trading range for today is between 3.1250 and 3.2100
The expected trend for today: Bullish
Wheat price gets a positive motive – Analysis - 12-11-2020
Wheat price faced strong negative pressure yesterday to test the key support 597.30, accompanied by stochastic reach to the oversold areas, waiting to motivate the price to resume the main bullish trend, which targets 626.00 followed by 636.60 levels as next main stations.
Therefore, the bullish trend will remain valid and active for the upcoming period conditioned by the price stability above 597.30, as breaking it will press on the price to achieve more bearish correction on the intraday and short term basis and achieve negative targets that start at 585.50 and extend to 573.00.
The expected trading range for today is between 590.00 support and 615.00 resistance.
The expected trend for today: Bullish