Commodities

Wheat price tests the resistance – Analysis - 24-05-2022

2022-05-24 04:19:43 GMT (Economies.com)

Wheat price traded positively yesterday to test 1200.00 level, keeping its stability below it until now, accompanied by witnessing clear oversold signals through stochastic, waiting to motivate the price to resume the bearish wave that targets 1142.30 followed by 1114.00 levels as next main stations.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1200.00.

 

The expected trading range for today is between 1150.00 support and 1220.00 resistance.

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The expected trend for today: Bearish

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