Wheat Price Breaks Through Resistance

Wheat prices experienced a robust upward surge in the previous session, effectively breaking the 605.00 barrier and settling above it. This development bolsters the outlook for the continuation of the bullish trend in both intraday and short-term perspectives. The path is now clear for an advance towards our subsequent target situated at 639.30.

The ongoing support from the EMA50 further reinforces the viability of the suggested bullish trajectory, which will persist unless there is a breach of 605.00 coupled with sustained trading below this level.

The projected trading range for today is anticipated to fluctuate between support at 610.00 and resistance at 635.00.

Projected Trend for Today: Bullish