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Wheat price gets new negative signal – Analysis - 01-05-2023
Wheat price provided slight positive trades in the previous sessions, starting today with bearish bias to head towards resuming the main bearish trend, motivated by stochastic negativity that appears clearly now, waiting to rally towards our targets that start at 600.00 and extend to 575.00.
The EMA50 continues to press negatively on the price to support the continuation of the expected bearish trend, reminding you that it is important to hold below 637.00 as a first condition to the continuation of the suggested decline.
The expected trading range for today is between 610.00 support and 635.00 resistance.
The expected trend for today: Bearish
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