Wheat price returns to the bullish correction – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:50AM UTC
Wheat Price Analysis
Expected Scenario: Continuing Bullish Momentum
- Wheat price rallied strongly upwards yesterday, breaching the $557.10 level and reaching the 38.2% Fibonacci correction level at $569.80 again, indicating a potential continuation of the bullish correction, with targets around $583.50.
- The bullish bias will be suggested for the upcoming sessions, but it's essential to note that failure to confirm a breach of $569.80 may lead to price decline and a visit to $552.80 before determining the next trend clearly.
Expected Trading Range for Today
- Support: $560.00
- Resistance: $580.00
Trend Forecast: Bullish
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