Wheat price attempts to recover – Analysis - 08-12-2022

Wheat price traded with clear positivity yesterday to breach 741.30 level and settles above it, which leads the price to recover and attempt to achieve gains that we expect to reach 767.00, making the bullish bias suggested for the upcoming sessions.

Holding above 741.30 is important to continue the expected rise, as breaking it will press on the price to resume the main bearish trend and head towards 709.00 areas as a next main station.

The expected trading range for today is between 740.00 support and 760.00 resistance.

The expected trend for today: Bullish