Wheat price attempts to recover – Analysis - 08-03-2021
Economies.com
2021-03-08 05:06AM UTC
Wheat price surpassed the intraday bearish channel’s resistance, but it faces good resistance formed by the EMA50, which support the continuation of the recently suggested bearish trend scenario, which targets 644.20 level initially, reminding you that breaking it will push the price to 629.40 as a next station.
On the other hand, we should note that breaching 662.50 will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 640.00 support and 662.50 resistance.
The expected trend for today: Bearish
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