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Wheat prices have stabilized at the $576.90 level, which has become a key support following previous breaches, prompting a notable upward bounce.
Analysts expect the price to continue its correctional bullish trend on an intraday basis, with the first target set at $605.80.
The bullish channel is backing the continuation of this upward wave, and this trend is anticipated to hold as long as prices do not fall below the $576.90 support level with a daily close beneath it.
Expected Trading Range:
Support: $578.00
Resistance: $605.00
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