1
Wheat prices continue to show volatility around the Exponential Moving Average (EMA) of 50, as recent movements indicate. The stochastic indicator, which had previously signaled positive momentum, is now losing strength, suggesting a potential continuation of the bearish trend in the near term. Analysts predict the next price target to be $568.50.
For the anticipated downward movement to continue, it is crucial that the price remains below the $599.00 resistance level. If this threshold is breached, it could signal the start of a bullish wave, with initial targets set for $623.70.
The forecasted trading range for today is expected to be between $575.00 for support and $599.00 for resistance.
Related topic: