Copper Price Analysis

Expected Scenario

• The copper price didn’t move since yesterday’s trading, to keep forming weak sideways trading by its stability near 4.5500$.
• Noting that the bearish track will remain valid in the near and medium trading continued the repeated stability below the resistance at 4.7600$, besides the continuation of providing negative momentum by stochastic, which assists to target the negative stations near 4.3500$ and 4.1500$.

Expected Trading Range

Between 4.6000$ support and 4.3500$ resistance.

Ethereum (ETHUSD) Price Analysis

Expected Scenario

• Ethereum price (ETHUSD) provided additional negative trades to reach the thresholds of 3400.00$ barrier, showing some bullish bias now affected by stochastic positivity.
• We expect to resume the negative trades to visit 3360.31$ that represents our next main target.
• We will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 3641.82$ will stop the expected decline and lead the price to resume the main bullish track again.

Expected Trading Range

Between 3360.30$ support and 3600.00$ resistance.

Bitcoin (BTCUSD) Price Analysis

Expected Scenario

• Bitcoin price (BTCUSD) bounced bearishly after approaching 65485.00$ support line, to move above 67000.00$ barrier, affected by stochastic positivity.
• We suggest resuming the bearish bias to test the mentioned support initially, noting that breaking it will push the price to suffer new losses that reach 60330.00$ areas as a next main station.
• The EMA50 forms negative pressure to support the continuation of the expected decline, noting that consolidating above 67080.00$ will stop the negative scenario and lead the price to attempt to regain the main bullish track again.

Expected Trading Range

Between 65800.00$ support and 68500.00$ resistance.

Wheat Price Analysis

Expected Scenario

• Wheat price traded with clear positivity to breach the 629.20$ level and settle above it, hinting at an attempt to stop the bearish correction.
• Stochastic shows clear negative signals now, while the EMA50 forms continuous negative pressure against the price.
• We believe that the chances are valid to resume the correctional bearish trend and head to achieve additional negative targets that reach 605.80$.
• Breaching 652.60$ will stop the expected decline and lead the price to attempt to regain the main bullish track again.

Expected Trading Range

Between 625.00$ support and 650.00$ resistance.