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Wheat price under the negative pressure – Forecast today - 30-04-2024
Wheat Price Analysis
The price of wheat traded with clear negativity yesterday, breaking the support level at 614.10$ and settling below it. This indicates a continuation of the expected decline in the upcoming sessions, targeting 597.10$ followed by 583.50$ levels mainly.
Therefore, the bearish bias will be suggested for today's trading, with the note that breaching 614.10$ will stop the expected decline and lead the price to resume the bullish wave again.
Expected Trading Range
- Support: 585.00$
- Resistance: 605.00$
Trend Forecast
Bearish
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