Categories: Technical analysis

Wheat Wave Analysis 9 April, 2021

• Wheat broke key resistance level 625.00

• Likely to reach resistance level 650.00

Wheat continues to rise inside the minor ABC corrective wave (ii) – which started earlier from the major round support level 600.00.

The price earlier broke the key resistance level 625.00 (former major support from the end of January) – which added to the bullish pressure on wheat .

Wheat is likely to rise further toward the next resistance level 650.00 (target price for the completion of the active corrective wave (ii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: wheat

Recent Posts

Adobe Wave Analysis 3 May 2024

- Adobe reversed from support zone - Likely to rise to resistance level 500.00 Adobe…

14 hours ago

EURGBP Wave Analysis 3 May 2024

- EURJPY reversed from support zone - Likely to rise to resistance level 0.8625 EURGBP…

14 hours ago

How Low Can the USDJPY Go?

USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over…

20 hours ago

Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom

Market picture  Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation…

1 day ago

EURJPY Wave Analysis 2 May 2024

- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…

2 days ago

WTI crude oil Wave Analysis 2 May 2024

- WTI broke round support level 80.00 - Likely to fall to support level 76.00…

2 days ago

This website uses cookies