Wheat price provided clear positive trades in the previous sessions to approach testing the key resistance 823.50, and bounced bearishly to resume the expected bearish trend on the intraday basis, which its main target located at 771.00.
The EMA50 supports the expected negative scenario, noting that breaching 823.50 will stop the suggested decline and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 780.00 support and 823.00 resistance.
The expected trend for today: Bearish