Wheat price keeps its negative stability – Analysis - 31-07-2020
Economies.com
2020-07-31 00:48AM UTC
Wheat price returned to test 536.80 level and kept its stability below it, to start declining again, which keeps the bearish trend scenario valid and active for the upcoming sessions, supported by the descending tops formation that appears on the chart, waiting to test 520.20 level as a first negative station.
Therefore, we are waiting for more decline on the intraday and short term basis, while holding below 536.80 represents key condition to continue the suggested negative scenario.
The expected trading range for today is between 520.00 support and 536.80 resistance.
The expected trend for today: Bearish
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