Wheat price resumes the decline – Analysis - 06-01-2022
Economies.com
2022-01-06 05:15AM UTC
Wheat price bounced bearishly after retesting 773.30 level yesterday, to keep the bearish trend scenario valid and active for the upcoming period, and the way is open to achieve our first waited target at 742.30, which breaking it represents the key to rally towards 711.40 as a next station.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 773.30.
The expected trading range for today is between 735.00 support and 770.00 resistance.
The expected trend for today: Bearish
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