Bitcoin Price (BTCUSD) Analysis

Bitcoin price (BTCUSD) shows more bullish bias to approach the key resistance 60252.85$, which represents a cluster of key resistance levels. The previously broken 38.2% Fibonacci correction level meets the neckline of the triple top pattern that appears on the chart, beside the EMA50 that moves around these areas. This is accompanied by stochastic loss to the positive momentum clearly.

Therefore, these factors encourage us to suggest the bearish rebound in the upcoming sessions and head to visit 56100.00$ as the next main target. It's worth considering that breaching 60252.85$ followed by 60825.00$ will stop the bearish wave and lead the price to turn to rise and achieve additional gains that reach 65390.00$ areas.

The expected trading range for today is between 57000.00$ support and 61000.00$ resistance.

Trend forecast: Overall bearish

Wheat Price Analysis

• Wheat price bounced clearly upwards after the 597.10$ level formed solid support against the price.
• Approaching the key resistance at 614.10$, hinting at an attempt to recover and achieve gains in the upcoming period, supported by technical indicators.

Therefore, it's advisable to stay aside until we get a clearer signal for the next trend. Note that continuing the rise and breaching 614.10$ will push the price to target 641.50$ areas as a next main station. Conversely, breaking 597.10$ support will push the price to decline again and head towards 583.50$ initially.

The expected trading range for today is between 600.00$ support and 620.00$ resistance.

Trend forecast: Neutral

Soybean Price Analysis

• Soybean price breached the 1193.10$ level clearly and closed the daily candlestick above it, confirming the activation of the positive scenario.
• Heading towards achieving a bullish correction on the intraday basis, targeting 1231.20$ areas as a next main station.

Therefore, the bullish bias will be suggested for today, motivated by the completion of the double bottom pattern that appears on the chart. However, breaking 1193.10$ will stop the expected rise and put the price under negative pressure again.

The expected trading range for today is between 1190.00$ support and 1230.00$ resistance.

Trend forecast: Bullish

Corn Price Analysis

• Corn price rallied upwards yesterday to succeed achieving our first waited target at 461.90$.
• Starting today with more rise to breach this level and confirm the continuation of the correctional bullish trend domination, which targets 474.70$ as a next main station.

Therefore, we are waiting for more expected rise in the upcoming sessions, supported by the EMA50 that carries the price from below. However, failing to consolidate above 461.90$ might force the price to decline and head to test the key support areas around 449.20$ before any new attempt to rise.

The expected trading range for today is between 457.00$ support and 472.00$ resistance.

Trend forecast: Bullish