Commodities

Wheat price awaits more rise – Analysis - 26-10-2020

2020-10-26 03:54:56 GMT (Economies.com)

Wheat price traded with clear positivity in the previous sessions and approached our first waited target at 636.30, showing some slight bearish bias now affected by stochastic negativity, and we might witness temporary decline before turning back to rise again.

 

The EMA50 keeps supporting the price from below, to continue suggesting the bullish trend for the upcoming period conditioned by the price stability above 620.00, reminding you that our next target extends to 640.00.

 

The expected trading range for today is between 624.00 support and 636.00 resistance.

The expected trend for today: Bullish

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