Copper Price Analysis

Expected Scenario

• The Copper price confirmed keeping the bullish scenario by moving away from 4.7500$ level, which forms the major support line, to notice surpassing the historical high and recording 5.0700$.
• Now, the continuous positive momentum coming by the major indicators will increase the efficiency of the bullish track, to expect targeting the first additional target at 5.1600$, which surpassing it will open the way to form strong bullish waves that might target 5.5800$ level in the upcoming period.

Expected Trading Range

Between 4.8800$ support and 5.1600$ resistance.

Ethereum Price Analysis

Expected Scenario

• Ethereum price (ETHUSD) ended yesterday below 2905.30$ level, to get negative motive that supports the continuation of the expected bearish trend on the intraday and short-term basis, to head towards targeting 2800.00$ followed by 2623.80$ as next main stations.
• The EMA50 keeps supporting the expected bearish wave, noting that breaching 2905.30$ followed by 2960.00$ levels will stop the expected decline and lead the price to achieve intraday gains that start by testing 3132.80$ areas.

Expected Trading Range

Between 2770.00$ support and 2970.00$ resistance.

Bitcoin Price Analysis

Expected Scenario

• Bitcoin price (BTCUSD) hovers around the EMA50, and continues to fluctuate within the sideways range mentioned in our previous reports, which its lines represented by 60252.85$ support and 65390.0$ resistance, to keep the sideways scenario dominant on the upcoming trades, waiting to breach one of the mentioned levels to detect the next targets clearly.
• We remind you that breaking the mentioned support will push the price to achieve new bearish correction that its next target reaches 56100.00$, while breaching the resistance represents the key to rally to resume the main bullish wave and achieve gains that start by testing 70000.00$ barrier.

Expected Trading Range

Between 63400.00$ support and 60000.00$ resistance.

Wheat Price Analysis

Expected Scenario

• Wheat price ended yesterday with clear negativity, as it broke 688.00$ level and settled below it, to return to the bullish channel again, and according to the trading rules inside the channels, the price is on its way to build intraday bearish wave that targets visiting the mentioned channel’s support line around 645.00$.
• Therefore, the bearish bias will be suggested for today, noting that breaching 694.50$ will stop the expected decline and lead the price to resume the main bullish track again.

Expected Trading Range

Between 665.00$ support and 695.00$ resistance.