Bitcoin price (BTCUSD) managed to touch our negative target suggested in our last technical update at 87025.00$, which represents 23.6% Fibonacci correction level for the rise from 66824.60$ to 93261.00$, noticing that the price finds solid support there, accompanied by stochastic reach to the oversold areas.

Therefore, these factors encourage us to suggest the rise in the upcoming period, to head towards resuming the main bullish trend again, on its way to achieve new positive targets that reach 94000.00$ areas, noting that breaking 87025.00$ will push the price to achieve more bearish correction that its next target reaches 83165.00$.

The expected trading range for today is between 86000.00$ support and 93000.00$ resistance.

Trend forecast: Bullish

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Wheat price shows more decline to reach 540.00$ areas, affected by the head and shoulders’ pattern that appear on the chart, which supports the chances of continuing the bearish trend to achieve negative targets that reach 519.10$.

The EMA50 supports the suggested bearish wave, which will remain valid conditioned by the price stability below 568.50$ and 572.00$ levels.

The expected trading range for today is between 530.00$ support and 553.00$ resistance.

Trend forecast: Bearish

Sugar price traded with clear positivity yesterday to attack the bearish channel’s resistance that appears on the chart, noticing that the EMA50 continues to press negatively on the price to protect the expected negative scenario for the upcoming period, waiting to resume the bearish trend that its next target located at 20.08$.

Therefore, we will continue to suggest the bearish trend on the intraday and short-term basis unless breaching 21.55$ and holding with a daily close above it.

The expected trading range for today is between 20.50$ support and 21.40$ resistance

Trend forecast: Bearish

Soybean price traded with clear negativity yesterday to move away from 1000.00$ barrier, reinforcing the expectations of continuing the bearish trend in the upcoming period, waiting to test 980.00$ as a next target, noting that breaking it will push the price towards the recently recorded low at 960.30$.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1000.00$ will push the price to achieve intraday gains and test the most important resistance at 1028.80$ before any new attempt to decline.

The expected trading range for today is between 975.00$ support and 1000.00$ resistance.

Trend forecast: Bearish