Wheat Price Analysis
- Wheat price faced negative pressure yesterday, breaking 552.80$ and closing the daily candlestick below it.
- Starting today with additional decline confirms stopping the bearish correction and returning to the main bearish track again.
- This opens the way to achieve negative targets starting at 535.00$ and extending to 525.40$.
Therefore, the bearish bias will be suggested for today, supported by moving below the EMA50.
Notably, breaching 552.80$ will stop the current negative pressure and lead the price to recover again.
The expected trading range for today is between 530.00$ support and 553.00$ resistance.
Trend forecast: Bearish