Wheat price awaits more decline – Analysis - 02-12-2021
Economies.com
2021-12-02 05:29AM UTC
Wheat price’s last trading is confined within a bearish triangular flag pattern that supports the expectations for the bearish trend expectations in the upcoming period, targeting 775.00 then 765.00 levels as next main stations, and the price needs to break 786.00 level to activate the negative effect of the mentioned pattern then rally towards the suggested targets.
Therefore, we keep preferring the bearish trend in the upcoming period unless the price rallied to breach 823.50 level and holding above it.
The expected trading range for today is between 770.00 support and 810.00 resistance.
The expected trend for today: Bearish
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