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Wheat prices closed above the $599.00 mark yesterday, setting the stage for potential gains in the upcoming sessions. Traders are now anticipating a target of reaching the 50% Fibonacci correction level at $623.70, which is seen as the next significant milestone.
For today, a bullish bias is forecasted; however, should prices fall below the $599.00 threshold, it could lead to negative pressure, with targets shifting downward to around $585.00.
Today’s expected trading range is projected between a support level of $595.00 and a resistance level of $615.00.
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