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Today, wheat prices closed above $553.40, reinforcing the bullish sentiment supported by the double top pattern. Analysts anticipate a continuation of the upward trend, with the next target set at $578.40.
Maintaining a bullish outlook for the intraday basis, experts warn that a drop below $553.40 could reverse the positive trend, subjecting prices to renewed selling pressure.
For trading today, the expected range is between support at $550.00 and resistance at $570.00. Investors are advised to monitor price movements closely within this range for potential breakout opportunities.
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