Back Dec 02, 2024

Wheat price hits the first target – Forecast today - 02-12-2024

Wheat price managed to touch our first negative target at 543.00$, waiting for more expected decline in the upcoming sessions to target 519.10$ as a next negative station.


The negative effect of the head and shoulders’ pattern still active and supports the expectations to decline, reminding you that it is important to hold below 568.50$ to continue the suggested bearish wave.


The expected trading range for today is between 535.00$ support and 555.00$ resistance.

Trend forecast: Bearish

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