Wheat price breaks the support – Analysis – 28-07-2023
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Photo By economics.com
Wheat price opened today with clear negativity to break 723.10 and settles below it, which stops the recently suggested positive scenario and head to decline in the upcoming sessions, on its way to visit 700.00 followed by 668.50 levels as next main stations.
Therefore, the bearish bias will be expected for today, supported by moving below the EMA50, conditioned by the price stability below 723.10.
The expected trading range for today is between 690.00 support and 725.00 resistance.
The expected trend for today: Bearish
