Wheat price begins today’s trading with bullish gap that puts the price at 535.0 level, which paves the way to achieve more expected rise in the upcoming sessions, supported by the EMA50, to continue moving inside the bullish channel that appears on the chart, waiting to achieve our next main targets that begin at 540.0 and extend to 556.1.
We should note that breaking 528.3 will press on the price to test the bullish channel’s support line at 519.0 before any new attempt to rise.
The expected trading range for today is between 525.0 support and 550.0 resistance.
The expected trend for today: Bullish