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Wheat prices have tested the $568.50 level and maintained stability above it, currently fluctuating at the support line of the intraday bullish channel. Stochastic indicators have shed their negative momentum and are moving toward oversold areas, suggesting that the price may resume its bullish trend, with the next target set at $599.00. The bullish trend is expected to remain valid unless prices drop below and hold under $568.50.
For today, the anticipated trading range is between $565.00 support and $585.00 resistance.
Related topic:
Top 5 Reasons Why Wheat Futures Are Falling