Wheat price tests the resistance – Analysis - 29-11-2023
Economies.com
2023-11-29 04:05AM UTC
Wheat price provided clear positive trades to test the key resistance 572.00, accompanied by stochastic loss to the positive momentum witnessing clear overbought signals, while the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, we expect to witness negative trades in the upcoming sessions as long as 572.00 level remains intact, reminding you that our waited targets begin at 549.70 and extend to 540.00 after breaking the previous level.
The expected trading range for today is between 560.00 support and 576.00 resistance.
The expected trend for today: Bearish
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