Wheat price reaches the second target – Analysis - 26-05-2022
Economies.com
2022-05-26 04:07AM UTC
Wheat price keeps declining to reach the thresholds of 1114.00 level, organized inside bearish channel that supports the chances of achieving more negative trades to surpass the mentioned level and open the way to head towards 1080.00 as a next negative target.
Therefore, the bearish bias will remain suggested in the upcoming period, taking into consideration that breaching 1150.00 will stop the current negative pressure and lead the price to attempt to recover.
The expected trading range for today is between 1090.00 support and 1150.00 resistance.
The expected trend for today: Bearish
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