Wheat prices showed clear positivity yesterday, breaching the $576.90 mark and settling above it. This upward movement suggests expected gains in upcoming sessions, driven by the formation of a double bottom pattern. This pattern supports the likelihood of targeting $605.80, followed by $615.00, as the next positive milestones.
Expected Trading Range:
Between $580.00 support and $605.00 resistance.
The bullish trend is expected to continue today, though it might be preceded by some sideways fluctuations due to stochastic negativity. However, if the price breaks below $576.90, this positive scenario will be halted, potentially pushing the price to decline again.
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