Wheat Today’s Forecast

Today’s Forecast, Wednesday, June 1

The market is trading along an sideways trend between 1083 and 1114.4.
Downtrend scenario
The downtrend may be expected to continue in case the market drops below support level 1083, which will be followed by reaching support level 1034.2
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1114.4, which will be followed by moving up to resistance level 1143.4 and 1168.

This/Next Week Forecast (May 30 – June 3, 2022)

Uptrend scenario
An uptrend will start as soon, as the pair rises above resistance level 1168, which will be followed by moving up to resistance level 1208 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1284.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 1143, which will be followed by moving down to support level 1114, 1083 and 1034.

Previous week forecast
Chart Wheat This/Next Week Forecast, Technical Analysis

Monthly Forecast, June 2022

Uptrend scenario
The uptrend may be expected to continue, while pair is trading above support level 1143.4, which will be followed by reaching resistance level 1350.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 1143.4, which will be followed by moving down to support level 971.

Chart Wheat Forecast 2020, Long-term Outlook, Technical Analysis

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