Home Depot stalls - Analysis - 18-03-2021

Wheat price succeeded to reach our first target at 629.40, expecting to break this level to extend the bearish wave towards 614.60 that represents our next negative station, supported by the EMA50 that continues to press on the price, reminding you that the continuation of the expected bearish wave depends on the price stability below 644.20.

Brent oil price shows negative trades to move near 66.85 level, falling under negative pressure formed by the EMA50, which support the chances of breaking the mentioned level to open the way to head towards 65.80 as a next negative station, to keep the bearish trend valid and active for the rest of the day conditioned by the price stability below 67.90.

Crude oil price resumes its negative trading to reach 63.55 now, to keep the bearish trend scenario valid and active for today, which its targets extend to 62.50, noting that the EMA50 supports the expected decline, which will remain valid unless breaching 64.55 and holding above it.