Wheat Price Exhibits Gradual Descent

by Jennifer

Wheat price has embarked on a bearish trajectory, with a gradual progression towards the 600.00 barrier. This prevailing bearish disposition appears poised to continue its dominance, charting a course towards the subsequent target of 580.20.

The EMA50 substantiates the anticipated bearish trend. It is noteworthy that a breach beyond the 641.50 threshold could instigate short-term advances, leading the price to test the 668.50 realms before any potential resumption of the downward move.


Today’s envisaged trading range is anticipated to stretch between the support level at 600.00 and the resistance level at 625.00.


The anticipated trend for today remains bearish.

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