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General Motors marks new record - Analysis - 13-01-2021

Economies.com
2021-01-13 10:06AM UTC

General Motors' stock (GM) surged 6.24% in the last session to a new record high while piercing the pivotal resistance of 46.65, amid the dominance of the main upward trend in the medium term, with positive pressure from the 50-day SMA. 

 

Therefore we expect more gains for the stock, targeting the first resistance at 50.70, provided it holds above 46.65. 

 

Expected trend for today: Bullish

Midday update for Wheat price 13-01-2021

Economies.com
2021-01-13 10:10AM UTC

Wheat price shows negative trades to test the key support 662.10, and the price needs to hold above this level to keep the bullish trend active for today, as breaking it will put the price under additional negative pressure that targets visiting 642.00 areas before turning back to rise again, while the next main target of the expected bullish wave is located at 684.10.

 

The expected trading range for today is between 662.00 support and 684.00 resistance.

The expected trend for today: Bullish

Midday update for Sugar price 13-01-2021

Economies.com
2021-01-13 10:10AM UTC

Sugar price still stuck between the next trend keys represented by 14.80 support and 15.05 resistance, and as we mentioned this morning, the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.

 

The contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, while the expected targets after the breach area explained in our morning report.

 

The expected trading range for today is between 14.60 support and 15.10 resistance

 

The expected trend for today: Neutral

Midday update for Soybean price 13-01-2021

Economies.com
2021-01-13 10:09AM UTC

Soybean price tests the key support base 1413.70 and still above it until now, to keep the bullish trend active for today, which targets 1448.50 as a next station, noting that breaking 1413.70 will press on the price to head towards testing 1375.00 areas before any new attempt to rise.

 

The expected trading range for today is between 1410.00 support and 1450.00 resistance.

 

The expected trend for today: Bullish