Spot gold price is within a bullish channel with the next target at $2660.00

Economies.com's analysts' latest view today: Spot gold prices started a new up move today, approaching our expected target of $2634.50, which is located within the intraday bullish channel that supports more intraday and short-term gains. We suggest a breakout of the above level to move towards the next positive stop of $2660.00. Therefore, the bullish trend will remain valid and active, supported by the 50-day exponential moving average (EMA50). Note that a break below $2615.00 will stop the bullish trend and push the price to achieve some intraday bearish corrections before rising again. Today's expected trading range is between the $2610.00 support and the $2650.00 resistance. Trend prediction: Bullish.

Spot silver prices remain bullish

Economies.com's analysts' latest view today: Spot silver price maintains stability above $31.00, while the stochastic indicator tries to shake off its negative momentum and gain positive momentum on the intraday timeframe, therefore, we believe there is a chance to resume the bullish trend expected in the coming period, with the target of $31.70 as the next stop. The 50-day exponential moving average (EMA50) continues to support the expected bullish trend, please note that a break below $31.00 will stop the expected rise and push the price to turn down. The expected trading range today is between the $30.80 support and $31.70 resistance. Trend prediction: Bullish.

WTI crude oil futures prices may continue to rebound

Economies.com's analysts' latest view today: WTI crude oil futures prices closed above the $71.95 level last Friday, which supports the continuation of the corrective bullish trend and opens the way for a move towards the 61.8% Fibonacci retracement level of $73.48. The price is affected by the previously completed inverted head and shoulders pattern, which supports the opportunity to break through the above level for additional gains to $75.36. Therefore, the bullish trend is expected to remain for some time to come. Note that a break below $71.95 will stop the bullish trend and push the price to test the $70.44 area before determining the next target. Today's expected trading range is between the $71.15 support level and the $74.14 resistance level. Trend prediction: bullish.

CBOT corn prices are expected to maintain a bullish trend today

Economies.com's analysts' latest view today: CBOT corn prices approached our expected negative target of 405.20, noting that the price started a bullish rebound from there, driven by the positive momentum of the stochastics, which led us to suggest that we may see a bullish bias in the next few trading sessions, with the main target to test 416.30. Therefore, the bullish trend is expected to remain today, while noting that a break below 405.20 will stop the positive scenario and push the price to suffer more losses on an intraday and short-term basis. The expected trading range today is between the 404.00 support and 416.00 resistance. Trend prediction: Bullish.

CBOT soybean prices formed a head and shoulders bottom pattern and are expected to maintain a bullish trend today

Economies.com's analysts' latest view today: CBOT soybean prices showed positive trading at the opening of today's session, attempting to break through the 1028.80 level, suggesting that the positive effect of the head and shoulders bottom pattern will be activated, and then a bullish correction will begin from the decline from 1250.70 to 960.30, with the main target area at 1071.20. Therefore, the bullish tendency is expected to remain today, taking into account that failure to consolidate above 1028.80 will push the price down and test the support level of 1004.00 before clarifying the next trend. The expected trading range today is between the 1020.00 support level and the 1050.00 resistance level. Trend forecast: Bullish.

ICE Raw Sugar Futures Prices Could Rise Further to 23.00

Economies.com's analysts' latest view today: ICE Raw Sugar futures prices continued the bullish trend and successfully reached our new expected target of 22.73. Noting that the price attempted to break through this level, it hints that further gains to 23.00 and then 23.90 levels may be the next positive support. Therefore, we will continue to recommend a bullish trend for the coming period, while considering that a failure to break through 22.73 will stop the expected rise and push the price to a bearish rebound on an intraday basis. Today's expected trading range is between 22.40 support and 23.20 resistance. Trend prediction: Bullish.

Article forwarded from: Jinshi Data