Brent crude oil futures prices successfully broke below the level of $72.06, maintaining a bearish trend.
The latest view from Economies.com analysts today: Brent crude oil futures prices successfully broke below the level of $72.06 and closed below that level, supporting expectations for a continued bearish trend in the coming period, opening the way for new downward targets starting at $71.15 and extending to $70.00 after breaking the previous level. Negative pressure formed by EMA50 supports the suggested bearish wave, which will remain valid unless prices rise above $72.06 and stay above it. Today's expected trading range is between the support level of $70.00 and the resistance level of $73.00. Trend prediction: Bearish.
Waiting for WTI crude oil futures to break below our first target of $67.00.
The latest view from Economies.com analysts today: WTI crude oil futures prices stabilized around the level of $67.40 after declines in previous trading days, waiting to break below our first target of $67.00 to confirm the path towards our next downward target of $65.50. Therefore, we will continue to suggest a bearish trend in the upcoming period, supported by negative pressure from EMA50, and considering that a break above $68.64 would halt the bearish wave and lead prices to initiate attempts for an intraday rebound. Today's expected trading range is between the support level of $65.80 and the resistance level of $68.80. Trend prediction: Bearish.
The spot silver price is supported by EMA50, maintaining a bullish stance for the day.
The latest view from Economies.com analysts today: The spot silver price has fluctuated within a horizontal range in previous trading days, receiving positive support from EMA50, while the stochastic indicator has accumulated positive momentum within the intraday timeframe, believing there is a chance to recover upward in the upcoming trading period, waiting to test $31.63 as the first target. The continuation of the bullish wave depends on price stability above $30.63, as breaking below this level would lead to intraday losses, first testing the area of $29.63. Today's expected trading range is between the support level of $30.80 and the resistance level of $31.60. Trend prediction: Bullish.
The stochastic indicator has clearly lost its positive momentum, and the spot gold price is bearish for the day.
The latest view from Economies.com analysts today: The spot gold price is hovering around EMA50, noting that the stochastic indicator has clearly lost its positive momentum, approaching the overbought area, waiting for motivation to restore the expected bearish trend, with the next target at $2600.00. The continuation of the bearish wave depends on the price's stability below $2670.00, as breaking it represents a key return to the main bullish track for profit, first testing the obstacle of $2700.00. Today's expected trading range is between the support level of $2620.00 and the resistance level of $2657.00. Trend prediction: Bearish.
Waiting for ICE raw sugar prices to rise further to test the next target of 21.55.
The latest view from Economies.com analysts today: ICE raw sugar prices rose last Friday, successfully reaching our first expected bullish target of 21.10, looking forward to further increases to test the next bullish point of 21.55. Importantly, if the resistance line of the bearish channel appearing on the chart is not broken, it may force prices to rebound and fall, restoring the downward trend within this channel, with an initial target of $20.08. Today's expected trading range is between the support level of $20.70 and the resistance level of $21.55. Trend prediction: Bullish.
CBOT corn has moved away from the level of 434.30, strengthening expectations for a continued bullish trend in the upcoming trades.
The latest view from Economies.com analysts today: CBOT corn prices provided additional bullish trading in previous trades, moving away from the level of 434.30, strengthening expectations for a continued bullish trend in the upcoming trades, with our next target at $445.40. Moving above EMA50 supports the continuation of the suggested bullish wave, while a drop below $434.30 would halt the expected rise and push prices to turn bearish. Today's expected trading range is between the support level of $435.00 and the resistance level of $445.00. Trend prediction: Bullish.
Article reposted from: Jin Shi Data.