Alibaba keeps rising - Analysis - 17-12-2019

Crude oil price succeeded to achieve our first waited target at 60.90 and shows more bullish bias that hints the price head to achieve more expected gains in the upcoming sessions, reminding you that breaching this level will extend the bullish wave to reach 62.30 as a next station, while the expected rise will remain valid unless breaking 59.05 level and holding below it.

Wheat price tests the initial support base 545.0, noticing that stochastic begins to overlap positively to support the chances of resuming the expected bullish trend for today, which targets 573.8 areas mainly, reminding you that the continuation of the bullish wave requires holding above 540.8.

Sugar price resumes its negative trading affected by the previously completed head and shoulders’ pattern, to keep the negative pressure valid for today, reminding you that our waited targets begin at 13.15 and extend to 13.00, while holding below 13.50 represents key condition to continue the expected decline.