Wheat price achieves good gains – Analysis - 21-07-2021

Wheat price provided clear positive trades yesterday but it returns to test 701.00, noticing that the price begins today with new rise to move away from the mentioned level, to keep the bullish trend scenario active on the intraday and short term basis, supported by the EMA50, reminding you that our next main target is located at 726.80.

On the other hand, we should note that breaking 701.00 will stop the expected rise and press on the price to decline towards 680.20 initially.

The expected trading range for today is between 695.00 support and 720.00 resistance.

The expected trend for today: Bullish