Bitcoin price (BTCUSD) bounced downwards clearly after reaching 108350.00$ areas, to break the intraday bullish channel’s support line and achieve some temporary bearish correction, on its way to visit 103000.00$ as a next negative target, noting that breaking it will push the price towards 101365.00$ direct.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 105935.00$ will stop the expected decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 102000.00$ support and 106500.00$ resistance.

Trend forecast: Bearish

Wheat price managed to break 550.50$ level and hold below it, to move below the bearish trend line again, reinforcing the expectations of continuing the bearish trend in the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, noting that our targets start at 542.00$ and extend to 519.10$ mainly.

Holding below 554.20$ represents initial condition to the continuation of the suggested decline, as breaching it might push the price to achieve temporary gains and test 568.50$ before any new negative attempt.

The expected trading range for today is between 535.00$ support and 550.00$ resistance.

Trend forecast: Bearish

Sugar price declined strongly yesterday to succeed achieving our second waited target at 19.35$, and we expect the continuation of the bearish bias to achieve additional negative targets that extend to 18.65$ followed by 18.00$ as next main stations.

Therefore, the bearish trend will remain valid and active, noting that breaching 19.35$ might push the price to achieve intraday gains and test the key resistance 20.08$ before any new attempt to decline.

The expected trading range for today is between 18.60$ support and 19.40$ resistance

Trend forecast: Bearish

Soybean price managed to achieve our first negative target at 976.50$ and broke it to close the daily candlestick below it, confirming the continuation of the bearish trend domination on the intraday and short-term basis, reminding you that our next target is located at 960.30$.

The negative pressure formed by the EMA50 supports the expected decline, noting that breaching 976.50$ and holding above it might push the price to start recover attempts and build intraday bullish wave that targets testing 990.50$ areas initially.

The expected trading range for today is between 960.00$ support and 976.50$ resistance.

Trend forecast: Bearish