Wheat should go to 540 then target 610Daily chart,
The commodity WHEAT - cash contract - PEPPERSTONE: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:
RSI is in the 50%, with a bullish trend
MACD is about to cross up
