Bitcoin (BTCUSD) Price Analysis

Expected Scenario

• Bitcoin price (BTCUSD) didn’t show stabile trades yesterday, as it attempted to break 56160.00$ again without managing to hold below it, starting today with bullish bias on its way to test the key resistance 58660.00$, and as we mentioned in our last report, these levels represent the next trend keys, and the price needs to surpass one of them to detect its next destination clearly.
• Note that the continuation of the positive trades and breaching the mentioned resistance will complete forming double bottom pattern that has the ability to push the price to achieve gains that start at 60325.00$ and extend to 62600.00$, while breaking the support will push the price to resume the main bearish track that its next target located at 51990.00$.

Expected Trading Range

Between 54600.00$ support and 60000.00$ resistance.

Wheat Price Analysis

Expected Scenario

• Wheat price faced clear negative pressure yesterday to break 576.90$ and close the daily candlestick below it, to hint heading to achieve more expected decline in the upcoming sessions, targeting 556.00$ areas as a next negative station.
• Therefore, the bearish bias will be suggested for today, noting that breaching 583.20$ will stop the expected decline and lead the price to attempt to recover again.

Expected Trading Range

Between 565.00$ support and 583.00$ resistance.

Sugar Price Analysis

Expected Scenario

• Sugar price continued to decline to test 19.82$ level, noticing that the price bounced bullishly from there to end yesterday positively, which keeps the bullish trend scenario valid and active for the upcoming period, organized inside the bullish channel that appears on the chart, reminding you that our next target is located at 21.35$.
• The technical indicators provide positive signals that support the expectations to rise, which will remain valid unless breaking 19.82$ and holding below it.

Expected Trading Range

Between 19.80$ support and 20.80$ resistance.

Soybean Price Analysis

Expected Scenario

• Soybean price traded with strong negativity yesterday and managed to achieve our waited target at 1095.60$, noticing that the price begins today with additional decline to attack this level and attempt to confirm breaking it, reinforcing the chances of continuing the domination of the bearish trend in the upcoming period, noting that the next negative target reaches 1050.00$ areas.
• The EMA50 supports the suggested bearish wave, noting that failing to confirm breaking 1095.60$ might push the price to start recover attempts and build bullish wave on the intraday basis.

Expected Trading Range

Between 1065.00$ support and 1110.00$ resistance.