The price of wheat has resumed its downward trend, moving away from the $605.80 level and reinforcing expectations of continued bearish momentum. This decline opens the path towards the next main target of $576.90.
The bearish channel is effectively organizing the anticipated downward wave. This bearish trend is expected to persist as long as the price remains below the $605.80 threshold.
Expected Trading Range for Today
Support: $580.00
Resistance: $605.00
Trend Forecast: Bearish