Wheat prices have successfully reached our target of $568.50, finding strong support at this level. This has initiated attempts to form a bullish wave on an intraday basis, with expectations to test the $599.00 area in the upcoming sessions.
We anticipate positive trading in the near term, and a breach of the $580.00 resistance would facilitate reaching the expected target. Conversely, breaking below $568.50 could lead to new losses.
The expected trading range for today is between $570.00 support and $590.00 resistance.
Trend Forecast: Bullish
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