Wheat price ended yesterday below the minor bullish channel’s support line, noticing that the price completed forming double top pattern that its signs appear on the chart, which makes us suggest witnessing bearish correction in the upcoming sessions, and the targets begin by surpassing 613.50 to confirm extending the bearish wave towards 599.30 as a next correctional target.
Therefore, the bearish trend will be expected for today, noting that breaching 624.10 is considered as an initial positive key to stop the current negative pressure and attempt to regain the main bullish trend again.
The expected trading range for today is between 610.00 support and 624.00 resistance.
The expected trend for today: Bearish