ICE raw sugar prices are expected to continue the previous downward trend.
Economies.com's analysts' latest view today: ICE raw sugar prices are expected to continue the previous downward trend, moving away from 20.08, supporting the negative scenario expected on a daily and short-term basis, waiting to test 19.35 as the next target. The current positive possibility of the stochastic indicator may cause some sideways fluctuations before the expected downward resumption unless it breaks above 20.08 and stays above this level, with a daily closing price higher than 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.
Economies.com's analysts' latest view today: CBOT soybean prices experienced a significant drop yesterday after a recent period of narrow fluctuations, breaking the support line of the daily bullish channel and confirming that the bearish trend will continue to dominate in the upcoming period. The expectation is to test 976.50 next, followed by 960.30 as the next major target. A drop 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.
Economies.com's analysts' latest view today: CBOT corn prices closed above 445.40 yesterday, suggesting a potential new bullish trend may form on a daily basis. However, we note that the stochastic indicator shows significant overbought signals, which may apply downward pressure on prices in the upcoming trading session. Therefore, we tend to remain on hold until prices confirm their trend based on the level of 445.40. It is important to note that staying above this level will drive prices to form a bullish trend, with the next target at 460.00, while a drop below this level will push prices down to test 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 .....
Economies.com's analysts' latest view today: Brent crude oil futures prices are fluctuating near the key support level of 73.90. As we mentioned yesterday, prices need to stay above this level to keep the bullish trend scenario active for the upcoming period, with the next target at 75.36. The stochastic indicator shows positive signals, supporting the possibility of a price recovery in the upcoming trading session. Additionally, EMA50 also provides positive support. It is important to note that a drop below 73.90 will halt the bullish trend and apply 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 push prices upward.
Economies.com's analysts' latest view today: WTI crude oil futures prices are testing the key support level of 70.58, and so far remain stable above it to keep the bullish trend scenario valid and active for the upcoming period, waiting for positive momentum to push prices back to the expected daily bullish trend, with the next target at 72.15. A drop below 70.58 will put prices under downward pressure, starting a bearish trend with a short-term target to test 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 drop to....
Economies.com's analysts' latest view today: Spot silver prices closed below the level of 30.63 yesterday, which keeps our bearish outlook for the upcoming period valid, waiting for prices to continue dropping to 29.63. EMA50 continues to support the expected bearish trend, unless prices break above 30.63 and stay above this level, 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.
Economies.com's analysts' latest view today: Since yesterday, spot gold prices have been dominated by narrow fluctuations, noting that the stochastic indicator has lost its positive momentum and is now showing negative overlap, waiting for price incentives 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 stop 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