Wheat price breaches the resistance lines – Analysis - 22-06-2021

Wheat price opens today with clear rise to breach 668.00 and settles above it, on its way to achieve expected gains on the intraday basis, waiting to test 680.20 level initially, noting that breaching this level will push the price to 701.00 as a next positive target.

Therefore, we expect the domination of the bullish trend in the upcoming sessions supported by moving above the EMA50, noting that the continuation of the bullish wave depends on the price stability above 659.40.

The expected trading range for today is between 665.00 support and 690.00 resistance.

The expected trend for today: Bullish