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Wheat prices have displayed notable positivity, riding an intraday bullish trend marked on the chart, as they move towards correcting the previous decline that commenced from the 784.20 level. The next target in this correction is set at 605.00 initially.
This positive momentum suggests that we can anticipate further bullish tendencies in the upcoming trading sessions. However, it’s important to keep an eye on the 577.40 level, as a breach here could halt the expected upward movement and potentially lead to a price decline.
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As for the projected trading range for today, it is expected to fluctuate between the support at 575.00 and resistance at 605.00.
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In conclusion, the overall trend for today is favorably bullish.
