Wheat price crawls downwards – Analysis – 06-09-2023
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Photo By Economies.com
Wheat price shows calm bearish bias to attempt to surpass 600.00 barrier, while stochastic loses its positive momentum clearly, waiting to assist to push the price to continue the decline and achieve our waited target at 580.20.
The continuation of the bearish wave depends on the price stability below 613.00 as a first condition, as breaching it might push the price to achieve intraday gains that start at 637.50 before any new attempt to decline.
The expected trading range for today is between 590.00 support and 610.00 resistance.
The expected trend for today: Bearish
