Wheat Price Analysis Expected Scenario Wheat price provided clear negative trades to reach the thresholds of the awaited target at 652.60$, which represents the 38.2% Fibonacci correction level for the rise from 530.10$ to 728.30$. Breaking it will push the price to achieve additional bearish correction, with the next target at 629.20$. The negative effect of the head and shoulders pattern supports the continuation of the bearish trend domination in the upcoming sessions, which will remain valid unless the price rallies to breach 681.50$ and holds above it. Expected Trading Range Between 650.00$ support and 670.00$ resistance.

Trend Forecast: Bearish