Wheat price approaches the target – Forecast today - 17-04-2024
Economies.com
2024-04-17 03:40AM UTC
Wheat Price Analysis
Expected Scenario
- Wheat price provided negative trades yesterday, nearing the first awaited target at 552.80$.
- Awaiting a break below this level to extend the bearish wave towards 541.80$ as the next main target.
- The EMA50 continues to exert downward pressure, supporting the continuation of the bearish trend.
- The bearish scenario remains valid unless the price manages to rally and breach 569.80$, holding above it.
Expected Trading Range
Between 550.00$ support and 576.00$ resistance.
Trend Forecast: Bearish
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