Wheat prices have confirmed a breakout above $536.00, initiating a bullish trend on an intraday basis. The next target is set at $564.60, with the bullish outlook supported by trading above the 50-day Exponential Moving Average (EMA50).
However, if the price falls below $536.00 and remains below this level, it could invalidate the positive scenario and resume the main bearish trend.
Today’s expected trading range is between $530.00 and $555.00.
Trend Forecast: Bullish
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