Wheat price resumes the decline – Forecast today – 23-11-2024

Economies.com

2024-11-23 04:12AM UTC

Wheat price bounced bearishly after retesting the broken neckline of the head and shoulders’ pattern that appears on the chart, to support he continuation of the expected bearish trend for the upcoming period, waiting to visit 543.00$ as a next negative station.

Breaking 565.00$ will ease the mission to head towards the suggested target, while breaching 572.60$ will stop the bearish wave and push the price to build bullish wave on the intraday basis.

The expected trading range for today is between 555.00$ support and 572.00$ resistance.

Trend forecast: Bearish