Wheat price attempts to recover – Analysis - 23-09-2020
Economies.com
2020-09-23 03:39AM UTC
Wheat price provided clear positive trades yesterday and approached 570.00 barrier, but it bounced downwards strongly to press on 557.30 level, as it begins today with more decline to move below this level, which keeps the bearish trend scenario valid and active for the upcoming period, targeting heading towards 542.00 followed by 536.80 levels mainly.
Therefore, we will continue to suggest the bearish trend on the intraday basis, reminding you that holding above 557.30 will lead the price to resume the main bullish trend and head towards 580.00 followed by 590.50 areas initially.
The expected trading range for today is between 550.00 support and 562.00 resistance.
The expected trend for today: Bearish
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