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IBM declines amid positive pressures - Analysis - 20-05-2020

Economies.com
2020-05-20 10:41AM UTC

IBM's stock declined 1.04% in the last session while garnering positive momentum to help it rise anew, while trading alongside the upward short-term trend line, with positive support from the 50-day SMA, coupled with positive signals from the RSI. 

 

Therefore we expect the stock to return higher, targeting the first resistance at 126.90, as long as the support of 115.78 holds on. 

 

Expected trend for today: Bullish   

Midday update for Wheat price 20-05-2020

Economies.com
2020-05-20 11:16AM UTC

The tight range dominates Wheat price trades since morning, thus, the bearish trend scenario will remain valid without any change for today, which targets 483.20 mainly, while its continuation requires holding below 503.70 and 507.00 levels.

 

The expected trading range for today is between 485.00 support and 506.50 resistance.

The expected trend for today: Bearish

Midday update for Sugar price 20-05-2020

Economies.com
2020-05-20 11:16AM UTC

Sugar price provided positive trades to move away from 10.60, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, affected by the previously completed inverted head and shoulders’ pattern, waiting to target 11.45 followed by 12.16 levels as next main stations, reminding you that it is important to hold above 10.60 and 10.45 levels to continue the suggested bullish trend.

 

The expected trading range for today is between 10.45 support and 11.45 resistance

 

The expected trend for today: Bullish

Midday update for Soybean price 20-05-2020

Economies.com
2020-05-20 11:15AM UTC

Soybean price did not show any strong move since morning, to continue fluctuating around the EMA50, thus, no change to the bearish trend scenario that depends on the price stability below 850.50, while its targets begin at 838.00 and extend to 816.30 after surpassing the previous level.

 

The expected trading range for today is between 830.00 support and 850.50 resistance.

 

The expected trend for today: Bearish