Wheat price attempts positively – Forecast today - 28-03-2024

Wheat Price Analysis

Bearish Scenario

• Wheat price provided positive trades but closed below the key resistance at 552.80$.
• Price begins today with new decline, keeping the bearish trend scenario active.
• Targets for the bearish trend are 535.00$ followed by 525.40$ levels as next main stations.

Stochastic Momentum

Stochastic loses the positive momentum clearly to support the suggested negative scenario.

Trading Range

The expected trading range for today is between 535.00$ support and 557.00$ resistance.

Trend forecast: Bearish