Wheat price hits the first target – Analysis - 25-05-2022
Economies.com
2022-05-25 04:11AM UTC
Wheat price declined strongly yesterday to succeed achieving our first waited negative target at 1142.30, and we expect the continuation of the bearish bias to visit 1114.00 as a next main target.
Therefore, the negative scenario will remain valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the bearish wave depends on the price stability below 1200.00.
The expected trading range for today is between 1114.00 support and 1185.00 resistance.
The expected trend for today: Bearish
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