Wheat price settles near the bullish channel’s support line that appears on the chart, noticing that the EMA50 continues to provide the positive support to the price, to keep the bullish trend scenario valid and active for the upcoming period, waiting to head towards 596.00 that represents our next main target.
We should note that breaking 570.00 would stop the expected rise and press on the price to test the main bullish channel’s support line at 544.00 before any new attempt to rise.
The expected trading range for today is between 570.00 support and 590.00 resistance.
The expected trend for today: Bullish