Wheat price resumes the decline – Analysis - 25-05-2023
Economies.com
2023-05-25 04:07AM UTC
Wheat price bounced downwards clearly after testing 629.40 level in the previous sessions, to resume the main bearish track and approach our first waited target at 603.10, noting that breaking this level will push the price to 590.00 areas as a next station.
Therefore, we will continue to suggest the bearish trend that gets continuous support by the EMA50 unless breaching 629.40 and holding with a daily close above it.
The expected trading range for today is between 595.00 support and 620.00 resistance.
The expected trend for today: Bearish
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