Wheat price surpasses the first target – Analysis - 13-12-2019

Wheat price succeeded to achieve our first waited target at 524.0 and surpassed it to confirm the continuation of the bullish trend on the intraday and short term basis, waiting to achieve more positive targets that extend to 540.0 followed by 556.1.

Therefore, our bullish overview will remain valid, and the price moves organized inside the bullish channel that appears on the chart, noting that holding above 517.6 is important to continue the suggested rise.

The expected trading range for today is between 520.0 support and 548.0 resistance.

The expected trend for today: Bullish