Wheat price hits the first target – Forecast today - 26-03-2024
Economies.com
2024-03-26 02:17AM UTC
Wheat Price Analysis
- Wheat price succeeded in reaching our first awaited target at 569.80$ but faced solid resistance.
- A bearish rebound occurred, retesting the breached neckline of the double bottom pattern.
- Price consolidation above this level keeps the positive effect of the pattern active.
- Expectation leans towards resuming the correctional bullish trend, targeting 583.50$.
Support and Resistance Levels:
- Support: 555.00$
- Resistance: 572.00$
Trend Forecast: Bullish
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