Midday update for Wheat price 13-04-2021

Wheat price trades with clear positivity now to surpass 629.40 level and settles above it, noticing that the price draws positive formation that appears on the chart, which makes us prefer staying neutral until the price confirms its situation according to the key levels represented by 629.40 support and 644.20 resistance.

Note that breaking the mentioned support will reactivate the bearish trend scenario that its next target located at 614.60, while breaching the resistance represents the key to achieve new gains that start by testing 662.45.

The expected trading range for today is between 620.00 support and 640.00 resistance.

The expected trend for today: Neutral