Wheat price completes negative pattern – Analysis - 21-11-2023

2023-11-21 04:11AM UTC

Wheat price provided new negative trades yesterday to complete forming double top pattern that its signs appear on the chart, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, reminding you that our next main target is located at 549.70.


The EMA50 supports the suggested bearish wave, noting that breaching 572.00 followed by 581.40 levels will stop the expected decline and lead the price to recover on the intraday basis.



The expected trading range for today is between 560.00 support and 575.00 resistance.


The expected trend for today: Bearish

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