Wheat price rises strongly – Analysis - 18-09-2020

Wheat price rose sharply yesterday to breach 557.30 and settles above it, starting today with new rise to move away from the mentioned level, which leads the price to achieve more expected gains on the short term and medium term basis, on its way to head towards the previously recorded top at 590.50.

Therefore, the bullish trend will be dominant in the upcoming sessions, noting that holding above 557.30 is important to continue the expected rise.

The expected trading range for today is between 555.00 support and 575.00 resistance.

The expected trend for today: Bullish