Wheat- In a Clean Resistance Zone, can it reach 542.00?
Wheat is already within a critical resistance zone that has times before led to bearish reversals. In any case this area, 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 542,00 level. However, a breakout above this resistance would invalidate the bearish outlook and suggest potential for further upward movement. So keep an eye on that.
Wait for clear signs of rejection before considering short positions.
If bearish confirmation occurs—through rejection wicks, bearish engulfing candles, or a decrease in buying volume—we could see a decline toward the 542,00 level. However, a breakout above this resistance would invalidate the bearish outlook and suggest potential for further upward movement. So keep an eye on that.
Wait for clear signs of rejection before considering short positions.
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