Wheat Price Exceeds Target, Bullish Trend Continues

In a significant development, the price of wheat has surpassed the anticipated target, reaching 605.00 and even surpassing it, closing the daily candlestick above this level. This breakthrough opens up the potential for further bullish correction, with the next positive milestones projected at 617.00 and 639.30 levels.

The ongoing support from the EMA50 reinforces the suggested bullish wave, which will remain valid as long as the price holds above 605.00, followed by 585.60 levels.

For today’s trading session, experts anticipate a trading range between the support level of 597.00 and the resistance level of 620.00.

Overall, the prevailing trend for today is expected to be bullish, indicating a positive market sentiment for wheat.