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Wheat price has embarked on a bearish trajectory, with a gradual progression towards the 600.00 barrier. This prevailing bearish disposition appears poised to continue its dominance, charting a course towards the subsequent target of 580.20.
The EMA50 substantiates the anticipated bearish trend. It is noteworthy that a breach beyond the 641.50 threshold could instigate short-term advances, leading the price to test the 668.50 realms before any potential resumption of the downward move.
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Today’s envisaged trading range is anticipated to stretch between the support level at 600.00 and the resistance level at 625.00.
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The anticipated trend for today remains bearish.
