Advertisements

Wheat Price Analysis Points Towards Bearish Outlook

by Daisy

In recent trading sessions, wheat prices have shown a consistent pattern resembling a bearish pennant on the charts. Analysts suggest that for the bearish sentiment to strengthen, the price must breach the $627.00 mark, triggering a potential downward trend. The corrective bearish trajectory is projected to target $605.80 as the next significant level.

Market analysts maintain a bearish outlook for the foreseeable future, emphasizing the importance of maintaining prices below $652.60 to sustain the anticipated decline.

Advertisements

Expected Trading Range

Market expectations indicate a trading range with support at $610.00 and resistance at $640.00.

Advertisements

Trend Forecast: Bearish

This analysis points towards a continuing bearish trend in wheat prices, contingent upon key price levels being breached as outlined.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News