Wheat price loses momentum – Analysis - 08-04-2021

2021-04-08 04:19:03 GMT (Economies.com)
 

Wheat price shows positive trades to move above 614.60, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 596.30 as a next main station.

 

We remind you that the price is affected by the previously completed double top pattern, which its signs appear on the chart, noting that the continuation of the bearish wave depends on the price stability below 629.40.

 

The expected trading range for today is between 595.00 support and 625.00 resistance.

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2061
0.0035
0.2915%
1.3879
-0.0074
0.5336%
Tadawul
10127.90
18.31
0.18%
26.102
0.311
1.206%
61.669
-1.509
2.389%
65.80
0.40
0.61%
1785.400
13.950
0.787%
 
 
Live Forex Updates