Wheat price achieves strong gains – Analysis - 13-05-2022
Economies.com
2022-05-13 04:30AM UTC
Wheat price rallied upwards sharply yesterday after breaching 1114.00, to reach 1200.00 level now, to reactivate the main bullish trend scenario again, noting that breaching the last level will lead the price to achieve additional gains that reach 1245.00 and 1300.00.
Therefore, the bullish bias will remain suggested for the upcoming period, taking into consideration that failing to breach 1200.00 will put the price under negative pressure to head towards testing 1114.00 areas before any new attempt to rise.
The expected trading range for today is between 1170.00 support and 1250.00 resistance.
The expected trend for today: Bullish
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