This/Next Week Forecast (November 9 – 13, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 615, which will be followed by moving up to resistance level 633.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 615, which will be followed by reaching support level 591 and if it keeps on moving down below that level, we may expect the market to reach support level 573.
previous week wheat price forecast
Fundamental Analysis
Difference between supply and demand shows fair price between the levels 500 – 540.
Monthly Forecast
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 633, which will be followed by reaching resistance level 705.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 591, which will be followed by moving down to support level 573 and 543.