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).
- Adobe reversed from support zone - Likely to rise to resistance level 500.00 Adobe…
- EURJPY reversed from support zone - Likely to rise to resistance level 0.8625 EURGBP…
USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over…
Market picture Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation…
- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…
- WTI broke round support level 80.00 - Likely to fall to support level 76.00…
This website uses cookies