Back Nov 19, 2024

Wheat price approaches the resistance – Forecast today - 19-11-2024

Wheat price keeps rising to reach the key resistance 568.50$, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the expected bearish wave on the intraday and short-term basis, which targets 543.00$ followed by 519.10$ areas as next main stations.

 The EMA50 supports the expected bearish trend, which will remain valid unless breaching 568.50$ and holding above it.

The expected trading range for today is between 545.00$ support and 568.00$ resistance.

Trend forecast: Bearish