Despite IBEX index facing negative pressures recently, its frequent consolidation above the bullish channel’s support line at 9184.00 supports the bullish overview for the upcoming period.
The price needs to jump above 9290.00 to confirm the preparation to record more positive targets that might start at 9380.00 followed by reaching 61.8% Fibonacci correction level at 9527.00.
The expected trading range for today is between 9200.00 and 9380.00
The expected trend for today: Bullish
Despite the GBPNZD pair’s consolidation within the bullish channel, facing strong negative pressures after stochastic declined towards the oversold areas led to form temporary negative waves to settle around 2.0100.
Now, with the stability of the price below the moving average 55, this will increase the chances of resuming the bearish correction to expect the attempt to test the bullish channel’s support line at 1.9910.
The expected trading range for today is between 2.0160 and 1.9910
The expected trend for today: Bearish
Wheat price tested the key resistance 514.00 and started to rebound bearishly from there, to keep the bearish trend scenario valid and active in the upcoming sessions, waiting to visit 501.77 level mainly.
Note that surpassing the targeted level will push the price to 491.86 as a next main station, while the expected decline will remain valid unless breaching 514.00 level and holding above it.
The expected trading range for today is between 495.00 support and 514.00 resistance.
The expected trend for today: Bearish