Wheat Prices Face Bearish Reversal, Eyeing $542 Support

Wheat prices recently tested the $568.50 level but encountered bearish pressure, signaling a continuation of the expected downtrend. The market is now poised to test the $542.00 level in the near term.

A drop below the $558.00 mark would strengthen the bearish outlook, confirming the continuation of the current downward trajectory. However, this trend remains intact unless prices breach and sustain levels above $568.50.

For today, the trading range is anticipated to be between the support at $550.00 and the resistance at $565.00.

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