Wheat price surpasses the resistance – Analysis - 06-05-2021
Economies.com
2021-05-06 00:48AM UTC
Wheat price rallied upwards strongly to breach 726.80 level and head towards regain the main bullish trend again, to confirm stopping the bearish correction that dominated the recent trades, on its way to visit 754.80 that represents the next positive target, noting that surpassing this level will push the price to 768.50 as a next station.
The EMA50 supports the suggested bullish wave, which will remain valid unless breaking 738.00 followed by 726.80 levels and holding below them.
The expected trading range for today is between 735.00 support and 765.00 resistance.
The expected trend for today: Bullish
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