Daily chart,
The commodity WHEAT - cash contract -
WHEAT is trading in a soft rising channel (yellow), and the price should test the line R1 at around 540 - After crossing, the target will be towards the channel upper line R2, around 610 , passing through the resistance levels 550 and 563
Stop loss below 505 to be considered.
Technical indicators:
The commodity WHEAT - cash contract -
WHEAT is trading in a soft rising channel (yellow), and the price should test the line R1 at around 540 - After crossing, the target will be towards the channel upper line R2, around 610 , passing through the resistance levels 550 and 563Stop loss below 505 to be considered.
Technical indicators:
- RSI is in the 50%, with a bullish trend
- MACD is about to cross up
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.