Technical analysis

Wheat Wave Analysis 9 April, 2021

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)).

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