Wheat price rallied upwards well yesterday to breach the bullish channel’s resistance and settles above it, reinforcing the expectations of continuing the main bullish trend, which its next target located at 687.00, supported by the EMA50 that protects trading inside the bullish channel that appears on the chart.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, which will remain valid unless breaking 652.80 and holding below it.
The expected trading range for today is between 660.00 support and 690.00 resistance.
The expected trend for today: Bullish