Wheat today broke through the support area lying between the key support level 510.00 (lower border of the narrow sideways price range inside which the pair has been trading from September) and the support trendline from April.
The breakout of the support area should accelerate the active short-term impulse wave (c) – which is a part of the medium-term ABC correction (2) from August.
Wheat is expected to fall further and re-test the next strong support level 495.00 (which has been steadily reversing the price from the end of August).
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies
