Wheat price begins positively – Forecast today - 18-03-2024

Wheat price’s decline stopped at 530.10 level, starting today positively to hint the formation of higher low that supports the chances of starting recovery attempts on the intraday basis, to head towards achieving expected gains in the upcoming sessions, noting that the first target is located at 552.80.

Therefore, the bullish bias will be suggested for today, noting that breaking 530.70 will stop the expected rise and push the price to resume the main bearish track again.

The expected trading range for today is between 530.00 support and 550.00 resistance.

Trend forecast: Bullish