Wheat price attempts to recover – Analysis – 21-08-2023
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Photo By Economies.com
Wheat price trades positively to test the EMA50 that forms good resistance against the price, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next main target located at 580.10.
We should note that surpassing the current areas will push the price to test the most important resistance for the intraday and short-term trades at 668.50 before any new attempt to decline.
The expected trading range for today is between 610.00 support and 650.00 resistance.
The expected trend for today: Bearish
