Spot gold stochastics are trying to shake off negative momentum
Economies.com analysts' latest view today: Spot gold prices are stable around 2427.00. It is worth noting that the stochastic indicator is trying to get rid of negative momentum and waits for the accumulation of positive momentum to help prices resume the main bullish trend. The upper targets are at 2450.00 and 2483.40 respectively. The price breaking through EMA50 is conducive to supporting bullish expectations. However, it should be noted that once it falls below 2398.00, the upward expectations will stop and the price may see a round of bearish correction, with an initial target at 2324.55. Today's expected trading range is between the 2410.00 support level and the 2450.00 resistance level.
Spot silver reactivates bearish trend
Economies.com's analysts' latest view today: Spot silver prices are weak, gradually moving away from 27.62, reactivating the bearish trend on the intraday chart and running within the bearish channel. The next major target is at 26.12. EMA50 exerts negative pressure on prices, supporting the continuation of bearish expectations. As long as the price stabilizes below 27.62, the bearish trend will remain valid. Today's expected trading range is between 26.80 support and 27.60 resistance.
Brent crude oil futures break through key resistance and will rise further with support from EMA50
Economies.com's analysts' latest view today: Brent crude oil prices show a bullish bias, approaching the target of 80.65. If the price breaks through this level, it will rise further to 82.15 with the support of EMA50. Therefore, it is recommended to maintain a bullish outlook for some time to come. Negatively affected by the stochastic indicator, this may first experience some temporary sideways fluctuations, waiting for the accumulation of positive momentum to help push the price to the expected target. It should be noted that once it falls below $79.70, the upward expectation will be stopped and the initial support level of 78.80 will be tested. The expected trading range today is between the support level of 79.10 and the resistance level of 82.00.
Bullish expectations for WTI crude oil futures strengthened
Economies.com's analysts' latest view today: WTI crude oil futures prices successfully broke through 78.35 and closed above it, strengthening the expectation of continued bullishness and creating conditions for further gains. The next target is to test 78.35. Once this level is broken, the price is expected to push to 79.84 in the short term. EMA50 supports the price from below. It should be noted that once it falls below 78.35, the bullish wave will be interrupted and the price may fall to a certain extent, with the initial target around 75.00. The expected trading range today is between the 76.00 support level and the 79.00 resistance level.
CBOT corn prices closed below resistance, downtrend to continue
Economies.com's analysts' latest view today: CBOT corn prices are more bearish, closing below the 390.00 resistance level, reinforcing expectations of continued downward trend. The lower targets are located at 380.00 and 362.00 respectively. EMA50 continues to exert negative pressure on prices, supporting expectations of downward price movement. As long as the price stabilizes below 399.40, the bearish trend will remain valid. Today's expected trading range is between the 375.00 support level and the 395.00 resistance level.
CBOT soybean prices fell below the 1,000 mark, and bearish views are still possible
Economies.com's analysts' latest view today: CBOT soybean prices fell below 1015.60 and reached the expected downside target of 1000.00. It is expected that the price will continue to show a downward trend within the bearish channel, with the target below 988.00. Therefore, with the support of EMA50, as long as the price remains west of 1016.00, the bearish trend will remain valid and active for some time to come. Today's trading range is expected to be between the 985.00 support level and the 1015.00 resistance level.
The article is forwarded from: Jinshi Data
