Wheat price presses negatively – Analysis - 07-02-2024

2024-02-07 04:26AM UTC

Wheat price shows new negative trades to press on the triangle’s support line that confines the recent trades, falling under negative pressure formed by the EMA50 against the intraday trades, while stochastic approaches to overlap negatively


Therefore, these factors encourage us to suggest the bearish bias for today, and the negative targets begin at 580.00, noting that breaching 605.00 will stop the expected decline and lead the price to turn to rise.


The expected trading range for today is between 585.00 support and 605.00 resistance.


The expected trend for today: Bearish

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