This article summarizes the latest views of Economies.com analysts today, covering multiple products such as spot gold, WTI crude oil futures!
ICE raw sugar fluctuates in a narrow range.
The Analyst at Economies.com provides the latest insight today: ICE raw sugar Futures prices showed no strong movements yesterday, fluctuating narrowly around the level of 18.65. Therefore, the expectations for a bearish trend scenario in the future period remain unchanged, depending on the stability of the price staying below 19.25, and it is reminded that our next major target is 18.00. The expected trading range today will be between the resistance level of 18.25 and 19.00.ResistanceAnd between the resistance level of 19.00.
CBOT Soybean faces downward pressure.
The Analyst at Economies.com provides the latest insight today: CBOT Soybean prices failed to remain above 975.00 for an extended period, subsequently falling below that level and experiencing downward pressure again, creating a new bearish wave, with the first target pointing towards 960.00 and possibly extending to 940.00. Therefore, unless the price breaks through 975.00 and maintains above it again, it is advised to maintain a bearish trend in the upcoming trading sessions. The expected trading range today will be between the support level of 950.00 and the resistance level of 985.00.
Brent Crude Oil Futures are facing temporary downward pressure.
The latest opinion from Economies.com's Analyst today: Brent Crude Oil Futures prices dropped significantly yesterday, touching the support line at $72.06, and have now risen back to around the resistance level of $73.00, which may provide additional bullish Trade opportunities to test the resistance line of the horizontal Range at $73.90. Thus far, the horizontal Range remains dominant, until the price can break through one of the levels mentioned above. We remind you that a break above the mentioned resistance will drive prices to achieve intraday gains, first reaching the area of $75.36, while a drop below support indicates negative factors that will lead to an intraday decline, initially starting from $71.00, extending down to $70.00. It is expected that today's Trade Range will be between the support level of $71.50 and the resistance level of $74.50.intraday tradingUntil the price can break through one of the levels mentioned above. We remind you that breaking the mentioned Resistance will push the price to achieve an intraday increase, first reaching the 75.36 area, while breaking below the Support indicates negative factors, leading to an intraday decline for the price, starting from 71.00 and extending to 70.00. The expected trading Range today will be between the Support at 71.50 and the Resistance at 74.50.
WTI Crude Oil Futures continue to fluctuate in a horizontal manner.
The latest opinion from Economies.com's Analyst today: WTI Crude Oil Futures prices faced downward pressure yesterday and approached the support line of the horizontal Range at $68.65, then saw a bullish rebound, settling around the 50-day Exponential Moving Average (EMA50), continuing to remain within the horizontal Range represented by the aforementioned support and $70.58 resistance, waiting to break through one of these levels to clarify its next target. We remind you that a break below the aforementioned support will lead to new declines in prices, hitting $67.00, while breaking above the resistance is the key to turning upwards and building a bullish wave, with the first major target at $72.15. It is expected that today's Trade Range will be between the support level of $68.20 and the resistance level of $71.20.
Spot Silver is hovering around the Resistance level.
The latest views from Analysts at Economies.com today: The price of spot Silver continues to fluctuate around the level of 29.63, and we need to closely monitor this price level because a breakthrough at this level will stop the recently suggested bearish trend and lead to a shift upward in price. The 50-day Index Moving Average (EMA50) exerts downward pressure, supporting expectations for a decline in future trading periods, and reminding you that our next main target is located at 28.40. Today's expected trading Range is between the Support level of 29.20 and the Resistance level of 30.00.
Spot Gold maintains a Put expectation.
The latest views from Analysts at Economies.com today: The price of spot Gold is testing the 50-day Index Moving Average (EMA50) and maintaining stability below it, beginning to provide short selling signals, suggesting that it will continue on a downward trend today while waiting for a breakthrough of the Resistance level at 2600.00 to enhance the possibility of targeting 2555.00, which is our next bearish target. Therefore, we will continue to recommend maintaining a bearish trend for the foreseeable future, and remind you that if the price breaks through 2640.00, it will stop the anticipated decline and push the price to establish a new bullish wave, starting at 2675.00 and possibly extending to 2706.00. Today's expected trading Range is between the Support level of 2595.00 and the Resistance level of 2635.00.