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Honeywell returns higher - Analysis - 02-06-2020

Economies.com
2020-06-02 12:03PM UTC

Honeywell's stock returned higher with a 0.23% profit, steadying above the support of 142.50, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 183.96 to 100.99), amid the dominance of the upward short-term trend, coupled with support from the 50-day SMA, countered by negative signals from the RSI. 

 

Therefore we expect more gains for the stock, targeting the resistance of 152.19, representing the ratio 61.8% of the same retracement levels. 

 

Expected trend for today: Bullish 

Home Depot stages tactical decline - Analysis - 02-06-2020

Economies.com
2020-06-02 12:02PM UTC

Home Depot's stock fell 0.48% in the last session while gathering momentum to help it rise anew, as the stubborn resistance of 247.09 held on amid attempts to pierce it, with the dominance of the upward short-term trend, with support from the 50-day SMA. 

 

Therefore we expect the stock to rise and target the resistance of 261.23, provided the resistance of 247.29 was breached.

 

Expected trend for today: Bullish 

Midday update for Wheat price 02-06-2020

Economies.com
2020-06-02 09:54AM UTC

Wheat price shows new negative trades to start pressing on the EMA50, which supports the expectations of continuing the bearish trend in the upcoming sessions, and we believe that the way is open to achieve our first waited target at 503.70, reminding you that it is important to hold below 520.30 to continue the current bearish bias.

 

The expected trading range for today is between 500.00 support and 525.00 resistance.

The expected trend for today: Bearish

Midday update for Sugar price 02-06-2020

Economies.com
2020-06-02 09:54AM UTC

Sugar price shows some bullish bias now in attempt to move away from the bullish trend line that appears on the chart, to keep the bullish trend scenario active for the rest of the day, which targets 11.45 followed by 12.16 levels as next main stations, reminding you that it is important to hold above 10.60 to continue the expected rise.

 

The expected trading range for today is between 10.60 support and 11.45 resistance

 

The expected trend for today: Bullish