Wheat continues to rise after the recent breakout of the resistance area lying between the key resistance level 473.00 (monthly high from March and April) and the 50% Fibonacci correction of the downward impulse from February.
The breakout of this resistance area accelerates the active short-term impulse wave C from the middle of May.
Wheat is expected to rise further and retest the next round resistance level 500.00 (target for the completion of the active impulse wave C).
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