The GBPJPY touches the first target – Analysis – 1-2-2023
The GBPJPY pair started to react to the major indicator’s negativity, to notice its slow decline and record the first target at 159.80 and settles above it, while in general, we will keep our bearish overview as long as 162.10 forms the additional resistance, while the major indicators provide the negative momentum to increase the chances of targeting the next negative station at 158.60.
Note that succeeding to break 158.60 and getting negative close below it will open the way to resume the negative attack and head to 157.80 as a first additional target.
The expected trading range for today is between 161.00 and 158.60
The expected trend for today: Bearish
Platinum price rebounds above the moving average again – Analysis – 1-2-2023
Platinum price lost its negative momentum yesterday, to form new positive wave and settle above the EMA50, to touch 1020.00 level, reminding you that the bearish scenario will remain valid depending on the strength of 1035.00 resistance, to keep waiting to gather the additional negative momentum to renew the bearish attack and target 985.00 followed by 965.00 levels.
The expected trading range for today is between 1025.00 and 985.00
The expected trend for today: Bearish
Copper price seeks the additional momentum – Analysis – 1-2-2023
Copper price provided temporary positive rebound yesterday, affected by the main stability within the bullish channel, to postpone the correctional bearish attack and settle near 4.2000 due to the lack of the additional negative momentum.
We remind you that it is important to hold below the additional barrier 4.3000 to increase the chances of gathering the negative momentum to manage to reach the next correctional target at 4.0200.
The expected trading range for today is between 4.2500 and 4.0200
The expected trend for today: Bearish
Wheat price resumes the rise – Analysis - 01-02-2023
Wheat price bounced upwards clearly after leaning on the intraday bullish channel’s support line, which supports the continuation of the expected bullish trend for the upcoming period, which targets testing 778.10 as a next station.
The EMA50 continues to support the suggested bullish wave, noting that it is important to hold above 752.40 to continue the expected rise.
The expected trading range for today is between 760.00 support and 780.00 resistance.
The expected trend for today: Bullish