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Wheat price tests the support base – Forecast today - 08-05-2024
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Wheat price tests the support base – Forecast today - 08-05-2024
May 7, 2024 9:30 PM

Wheat Price Analysis Outlook and Forecast for Current Trading Sessions Expected Scenario Price tested the support line at 641.50$ and maintained stability above it Active bullish trend scenario, targeting 660.00$ and 675.50$ levels as next targets Wheat price tested the support line formed at 641.50$ after breaching it previously and kept its stability above it, to keep the bullish trend scenario active, waiting to visit 660.00$ followed by 675.50$ levels as next targets.

Stochastic overlaps positively to support the expectations to rise, which will remain valid conditioned by the price stability above 641.50$.

Expected Trading Range Support: 641.50$ Resistance: 660.00$ Trend Forecast: Bullish

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