ICE raw sugar prices are expected to continue the previous downward trend
Latest views from Economies.com analysts: ICE raw sugar prices are expected to continue the previous downward trend, moving away from 20.08, supporting the negative scenario for the day and short term, waiting to test 19.35 as the next target. The current positive momentum of the stochastic indicator may lead to some sideways fluctuations before the expected downward recovery, unless it breaks above 20.08 and remains above this level, with a daily closing price above this level. The expected trading range today is between the support level of 19.40 and the resistance level of 20.10. Trend forecast: Bearish.
As long as CBOT soybean prices remain below 999.50, the bearish outlook will continue
Latest views from Economies.com analysts: After recent narrow fluctuations, CBOT soybean prices fell significantly yesterday, breaking the support line of the daily bullish channel and confirming that the bearish trend will continue to dominate in the upcoming period. The next target is expected to be 976.50, followed by the level of 960.30 as the next major target. A break below the EMA50 supports the expected downward trend, and as long as prices remain below 999.50, this trend will remain valid. The expected trading range today is between the support level of 975.00 and the resistance level of 990.00. Trend forecast: Bearish.
CBOT corn prices are currently on hold
Latest views from Economies.com analysts: CBOT corn prices closed above 445.40 yesterday, suggesting the potential for a new bullish trend on a daily basis. However, we note that the stochastic indicator shows significant overbought signals, which may exert downward pressure on prices in the upcoming trading session. Therefore, we prefer to remain on hold until prices confirm their trend based on the 445.40 level. It should be noted that staying above this level will push prices to form a bullish trend, with the next target at 460.00, while a break below this level will push prices down towards the 434.30 area in the short term. The expected trading range today is between the support level of 440.00 and the resistance level of 452.00. Trend forecast: Neutral.
Brent crude oil futures prices are expected to remain bullish in the short term, with an upper target of.....
Latest views from Economies.com analysts: Brent crude oil futures prices are fluctuating near the key support level of 73.90. As mentioned yesterday, prices need to remain above this level to keep the bullish trend scenario active for the upcoming period, with a target of the next target level at 75.36. The stochastic indicator shows positive signals, supporting the possibility of a recovery in the upcoming trading session. Additionally, the EMA50 provides positive support. It should be noted that a break below 73.90 will halt the bullish trend and exert downward pressure on prices on a daily basis. The expected trading range today is between the support level of 73.00 and the resistance level of 75.80. Trend forecast: Bullish.
WTI crude oil futures prices are waiting for positive momentum to drive prices higher
Latest views from Economies.com analysts: WTI crude oil futures prices are testing the key support level of 70.58 and have remained stable above it so far, to keep the bullish trend scenario effective and active in the upcoming period, waiting for positive momentum to drive prices to recover the expected daily bullish trend, with the next target at 72.15. A break below 70.58 will put prices under downward pressure, starting a bearish trend, with a short-term target of testing the 68.65 area. The expected trading range today is between the support level of 69.40 and the resistance level of 72.40. Trend forecast: Bullish.
Spot silver prices will continue to remain bearish, waiting for prices to fall to....
Latest views from Economies.com analysts: Spot silver prices closed below the level of 30.63 yesterday, keeping our bearish outlook valid for the upcoming period, waiting for prices to continue to decline and test 29.63. The EMA50 continues to support the expected bearish trend, unless prices break above 30.63 and remain above this level, otherwise the bearish trend will remain valid. The expected trading range today is between the support level of 29.90 and the resistance level of 30.80. Trend forecast: Bearish.
Spot gold prices are waiting to resume the expected downward trend
Latest views from Economies.com analysts: Since yesterday, spot gold price trading has been dominated by narrow fluctuations, noting that the stochastic indicator has lost its positive momentum and is now showing a negative overlap, waiting for an incentive for prices to resume the expected downward trend. For the upcoming period, the first target is to break below 2645.00 to enhance the possibility of gathering towards 2615.00, followed by the level of 2600.00 as the next target. On the other hand, we should note that a break above 2683.20 will halt the expected decline and guide prices to regain the main bullish trend. The expected trading range today is between the support level of 2635.00 and the resistance level of 2670.00. Trend forecast: Bearish.
Article reposted from: Jinshi Data