Advertisements

Wheat Prices Encounter Formidable Resistance

by Jennifer

Wheat prices recently endeavored to exceed the anticipated target at 639.30. However, a robust resistance barrier at this level has impeded further advancement, raising the prospect of a potential reversal in the trend towards a decline. Analysts now anticipate a movement towards the 605.00 areas in the near term.

Today’s market outlook suggests a prevailing bearish bias. It is crucial for investors to monitor price movements closely, with a breach above 639.30 potentially signaling a halt to the anticipated decline and opening the door for further bullish corrections in subsequent sessions.

Advertisements

The projected trading range for the day is expected to fluctuate between the support level at 620.00 and the resistance level at 640.00.

Advertisements

Expected Trend for Today: Bearish

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