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Microsoft reverses higher - Analysis - 28-05-2020

Economies.com
2020-05-28 12:25PM UTC

Microsoft's stock reversed higher away from a session-low at 176.54, marking a 0.13% profit, amid the dominance of the upward short-term trend, with positive support from the 50-day SMA, countered with negative signals from the RSI. 

 

Therefore we expect more gains for the stock, targeting the pivotal resistance of 190.70, provided the support of 174.42. 

 

Expected trend for today: Bullish 

Midday update for Wheat price 28-05-2020

Economies.com
2020-05-28 10:54AM UTC

Wheat price shows some bullish bias to test the EMA50 that forms negative pressure against the price, and as we mentioned this morning, the price needs to hold below 510.00 to keep the bearish trend active for today, reminding you that our targets begin by breaking 503.70 level to confirm rallying towards 483.20 on the near term basis.

 

The expected trading range for today is between 490.00 support and 510.00 resistance.

The expected trend for today: Bearish

Midday update for Sugar price 28-05-2020

Economies.com
2020-05-28 10:53AM UTC

Sugar price crawls downwards to approach the key support 10.60, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active for today, supported by stochastic reach to the oversold areas, waiting to resume the bullish bias affected by the inverted head and shoulders’ pattern, reminding you that our waited targets begin at 11.45 and extend to 12.16.

 

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

 

The expected trend for today: Bullish

Midday update for Soybean price 28-05-2020

Economies.com
2020-05-28 10:53AM UTC

Soybean price shows some slight bearish bias to move below 850.40, waiting to get enough positive motive to push the price to resume the correctional bullish trend, which its next target located at 871.40.

 

The EMA50 supports the suggested positive scenario, which will remain valid conditioned by the price stability above 843.40.

 

The expected trading range for today is between 843.00 support and 860.00 resistance.

 

The expected trend for today: Bullish