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Wheat prices have been fluctuating within a narrow range, currently stabilizing around the EMA50. For a bullish correctional wave to resume and target the $578.40 mark, positive momentum is required. The bullish trend is expected to persist, provided that prices do not fall below $532.10, which would reverse the current positive outlook and shift the market back into a bearish trend.
Today’s trading range is projected to be between $540.00 support and $555.00 resistance.
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