Wheat price surpasses the target – Analysis – 05-07-2023
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Photo By economic.com
Wheat price broke 668.50 level clearly and settled below it, reinforcing the expectations of continuing the domination of the bearish trend, and the way is open to achieve our next target at 630.00.
Therefore, the bearish trend scenario will remain active for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 668.50 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 630.00 support and 660.00 resistance.
The expected trend for today: Bearish
