Wheat Wave Analysis – 27 June, 2019

• Wheat broke key resistance level 550.00
• Further gains are likely

Wheat today broke through the key resistance level 550.00 (top of the previous short-term impulse wave 1 from the middle of June).

The breakout of the resistance level 550.00 accelerated the active short-term impulse wave 3 from the middle of June.

Wheat is expected to rise further and retest the next resistance level 570.00 (target price for the completion of the active impulse wave 3).