Wheat price shows calm negative trades since yesterday to approach gradually from 503.70 level, waiting for more decline to break this level and confirm the continuation of the expected bearish wave for the upcoming period, which targets 483.20 mainly.
In general, we will continue to suggest the bearish trend on the intraday and short term basis unless we witnessed clear breach and hold above 520.30.
The expected trading range for today is between 490.00 support and 515.00 resistance.
The expected trend for today: Bearish