WHEAT is within a clear resistance zone that has times before led to bearish reversals. In any case, this zone marked by previous price rejections, could once again attract selling pressure.If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 544,00 level.
However, I’ll be watching for strong support reactions or signs of exhaustion before confirming the next move.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management!
What’s your take on the potential trend of this chart? I’d love to hear your perspective in the comments.
Best of luck , TrendDiva
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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.