Wheat price resumes the decline – Analysis – 07-07-2023
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Photo By Agrihunt
Wheat price resumed its negative trading to move away from 668.50 level, to support the continuation of the expected bearish trend on the intraday and short term basis, supported by the negative pressure formed by the EMA50, reminding you that our first target is located at 630.00.
Holding below 668.50 is required to guarantee the continuation of the suggested bearish wave, as breaching it will push the price to return to the correctional bullish track again, to head towards visiting 723.10 level on the near term basis.
The expected trading range for today is between 635.00 support and 665.00 resistance.
The expected trend for today: Bearish
