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Crude Oil Price Forecast Update – March 7, 2025

Crude oil prices are currently showing strong bullish momentum, approaching the $67.05 mark and attempting to break through this level. This movement signals a...
HomeLatestWheat Price Tests Minor Resistance – Forecast for July 19, 2024

Wheat Price Tests Minor Resistance – Forecast for July 19, 2024

Wheat prices saw some temporary gains in previous sessions, nearing the EMA50, which acts as minor resistance. Following this, prices bounced bearishly, indicating a potential resumption of the expected bearish trend on both intraday and short-term bases. The initial targets are set at breaking $530.10 to pave the way toward $515.00, followed by $500.00 levels.

Thus, a bearish trend is anticipated for the upcoming period, provided that prices do not breach the $553.40 level and hold above it.

The expected trading range for today is between the support level of $525.00 and the resistance level of $550.00.

Trend Forecast: Bearish

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