Copper Price Analysis

Expected Scenario

• The copper price remains in sideways trades due to frequent consolidation below the 4.4200$ barrier.
• Stochastic decline below 80 level confirms correctional negative attempts, expecting a decline towards the 4.2500$ level soon.

Expected Outcome

No change to copper price sideways trades due to the frequent consolidation below 4.4200$ barrier, to force it to postpone the bullish attack for now.

On the other hand, succeeding to surpass the barrier and holding above it will reactivate the efficiency of the bullish track, expecting forming new bullish waves and start targeting new positive stations that might start at 4.5800$.

Expected Trading Range

Between 4.4200$ support and 4.2500$ resistance.

Price Analysis: Ethereum (ETHUSD)

Expected Scenario

• The Ethereum price (ETHUSD) managed to reach the 2905.30$ level and rebounds bullishly, heading towards an expected visit to the 3132.80$ level, which represents a key level to determine the next destination. Breaching it will lead the price to achieve additional gains, reaching 3360.31$.
• We expect to witness more bullish bias in the upcoming sessions, conditioned by the price stability above 2905.30$. Breaking this level will put the price under new negative pressure, with its next target reaching 2800.00$ areas.

Expected Outcome

The expected trading range for today is between 2950.00$ support and 3160.00$ resistance.

Price Analysis: Bitcoin (BTCUSD)

Expected Scenario

• The Bitcoin price (BTCUSD) rebounds bullishly after finding solid support at 60252.85$, heading towards achieving expected gains in the upcoming sessions, mainly targeting testing 65391.74$ areas.
• Therefore, a bullish bias is suggested for today, supported by the positive overlapping signal provided by stochastic now. Note that breaking 60252.85$ will stop the expected rise and push the price to achieve new bearish correction targeting 56100.00$ areas as the next main station.

Expected Outcome

The expected trading range for today is between 60500.00$ support and 64500.00$ resistance.

Price Analysis: Wheat

Expected Scenario

• The wheat price has successfully achieved the awaited target at 552.80$ and broke it to close the daily candlestick below it. This supports the expectations of continuing the bearish trend in the upcoming period, with additional negative targets starting at 541.80$ and extending to 525.40$.
• The negative scenario will remain dominant on the intraday and short-term basis, with the possibility of breaching 552.80$ and holding above it leading to new recovery attempts targeting testing 569.80$ areas.

Expected Outcome

The expected trading range for today is between 545.00$ support and 557.00$ resistance.