The GBPJPY pair formed new correctional bearish rebound yesterday to test 23.6% Fibonacci correctio level at 188.30 followed by bouncing quickly towards 189.70, attempting to confirm the previously suggested bullish track.

We expect the price to provide mixed sideways trades until gathering the additional positive momentum to manage to hold for long time above 188.30, in order to reinforce the chances of renewing the bullish rally that might target 190.15 level soon, followed by reaching the next target at 190.90.

The expected trading range for today is between 189.00 and 190.15

Trend forecast: Bullish

Platinum price confirmed its surrender to the domination of the bullish bias by providing new close above 23.6% Fibonacci correction level at 908.00, to notice achieving some positive gains by rallying towards 923.00.

Note that stochastic exit from the overbought areas might force the price to provide temporary sideways fluctuation until gathering the additional positive momentum to ease the mission of surpassing the intraday obstacle at 925.00 followed by waiting to touch the next main target at 949.00.

The expected trading range for today is between 905.00 and 935.00

Trend forecast: Bullish

Copper price took advantage of the positive pressures caused by stochastic approach to 80 level, forming strong bullish waves to settle above 3.8800 resistance line, attempting to move to the bullish track in the near-term and medium term period by recording the first positive target at 3.9200.

The price needs new close above the breached resistance to confirm its preparation to resume the bullish attack, allowing us to suggest moving to the main target at 4.0200 soon, while surpassing it will push the price towards 4.1500 as a next station.

The expected trading range for today is between 3.8800 and 4.0200

Trend forecast: Bullish

Wheat price provided temporary positive trades yesterday and bounced bearishly to resume the main bearish track, to keep the negative scenario active in the upcoming sessions, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 500.00.

Holding below 539.00 represents initial condition to the continuation of the expected decline, as breaching it might push the price to achieve intraday gains that start by testing 550.00 areas before any new attempt to decline.

The expected trading range for today is between 515.00 support and 540.00 resistance.

Trend forecast: Bearish