Wheat Price Surpasses First Target, Bullish Trend Forecasted – 23-04-2024

by Jennifer

Today, on April 23, 2024, wheat price has exhibited strong momentum, rallying significantly yesterday and completing the formation of an inverted head and shoulders pattern. This robust performance supports the expectation of a continued correctional bullish trend.

Having surpassed the first target at $583.50, the price is now approaching the second target at $597.10. Expectations suggest a further rise to breach this level and advance towards $614.10 as the next main target.


The bullish trend scenario is likely to persist in the upcoming period, contingent upon the price maintaining stability above the $583.50 and $576.60 levels.


Traders should anticipate a trading range between the support level at $580.00 and the resistance level at $600.00.

In summary, the trend forecast for wheat prices remains bullish, driven by recent performance and expectations for continued upward movement.

You May Also Like


Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright – Futures Market, Investment, Trading & News