Wheat price confirms the breach – Analysis - 10-07-2020

Wheat price achieved more gains yesterday and closed the daily candlestick above 520.30, confirming the continuation of the bullish wave on the intraday and short term basis, and the way is open to head towards our next positive target at 536.80.

Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 520.30, as breaking this level will put the price under negative pressure that targets visiting 503.70 areas initially.

The expected trading range for today is between 515.00 support and 536.00 resistance.

The expected trend for today: Bullish