Wheat price surpasses the target – Analysis - 28-11-2022

Wheat price opened today with strong negativity to surpass our waited target at 790.00 and settles below it, confirming the continuation of the domination of the bearish trend in the upcoming period, opening the way to head towards more negative targets that start at 760.00 and extend to 741.30.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that breaching 790.00 and holding above it will lead the price to start recover attempts and achieve some intraday gains.

The expected trading range for today is between 760.00 support and 795.00 resistance.

The expected trend for today: Bearish