Wheat price surpasses the first target – Analysis – 01-08-2023
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Photo By Economics.com
Wheat price managed to achieve our first negative target at 700.00 and surpassed it to approach the second target at 668.50, to support the continuation of the expected bearish trend on the intraday basis, noting that surpassing the last level will push the price to suffer additional losses that reach 627.00.
In general, the bearish trend will remain suggested for the upcoming period unless the price rallied to breach 723.10 and hold with a daily close above it.
The expected trading range for today is between 660.00 support and 695.00 resistance.
The expected trend for today: Bearish
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