Wheat price breaks the support – Analysis – 26-10-2023
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Photo By Economies.com
Wheat price traded with clear negativity yesterday to break 595.00 level and settles below it, to stop the correctional bullish scenario and head towards resuming the main bearish trend again, targeting testing 572.50 followed by 549.70 levels as main negative stations.
Moving below the EMA50 supports the continuation of the expected decline, which will remain valid unless the price rallied to breach 605.00 and hold above it.
The expected trading range for today is between 565.00 support and 585.00 resistance.
The expected trend for today: Bearish
