Wheat price completes positive pattern – Analysis – 16-10-2023
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Photo By Economies.com
Wheat price shows more bullish bias to approach our waited target at 605.00, noticing that the price completed forming positive pattern that supports the chances of surpassing the mentioned level to open the way to achieve bullish correction that its next main target located at 639.30.
Therefore, the bullish trend will remain suggested on the intraday basis, supported by the EMA50 that carries the price from below, noting that holding above 593.00 represents initial condition to continue the expected rise.
The expected trading range for today is between 590.00 support and 610.00 resistance.
The expected trend for today: Bullish
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