Wheat price faces temporary negative pressure – Analysis – 18-10-2023
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Photo By Economies.com
Wheat price traded negatively in the previous sessions to test the EMA50 that formed good support against the price, noticing that the price begins today positively in attempt to resume the correctional bullish trend, waiting to test 605.00 level initially, reminding you that breaching this level will extend the bullish wave to reach 639.30 areas.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 585.00 and holding below it.
The expected trading range for today is between 585.00 support and 605.00 resistance.
The expected trend for today: Bullish
