Commodities

Wheat price is recovering – Analysis - 12-05-2021

2021-05-12 00:04:45 GMT (Economies.com)

Wheat price rallied upwards to surpass 733.50 level and settles above it, to activate the positive scenario and heads towards achieving more expected gains in the upcoming period, noting that our first main target is located at 758.00.

 

Therefore, the bullish bias will be suggested for today unless breaking 726.80 and holding with  a daily close below it.

 

The expected trading range for today is between 720.00 support and 770.00 resistance.

The expected trend for today: Bullish

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