WHEAT at Key Support Level - Will Price Rebound to 541$?PEPPERSTONE:WHEAT has reached a major support level, an area where buyers have previously shown strong interest. This area has previously acted as a key demand zone, increasing the likelihood of a bounce if buyers step in.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers step in, the price could rally toward the 541$ target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.
Best of luck , TrendDiva
