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Wheat prices are exhibiting a bearish bias, indicating the potential continuation of this downward trend on both intraday and short-term bases. The price is expected to test $495.00 initially, with a potential decline towards $470.00 if this level is breached. The 50-period Exponential Moving Average (EMA50) supports the bearish outlook, provided prices remain below $532.10.
Today’s anticipated trading range is between $500.00 as support and $530.00 as resistance.
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