Wheat Futures Technical Analysis: Weekly Chart

In the weekly charts, Wheat Future was trading in a down channel. Wheat Future is currently trading above all SMA except MA (50)

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 880.00 the resistance level is at 920.00

Wheat Future was traded in a down channel before there is an upside breakout.

Wheat Futures Technical Analysis: Daily Chart

In the daily charts, Wheat Futures is trading in an up channel. Wheat Futures is currently trading above all SMA except MA (5).

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 885.00 the resistance level is at 920.00

Wheat Futures will trade in an up channel until there is a trend reversal.  

How to Trade Wheat Futures this Week:

Wheat Futures will follow the uptrend until its trend reversal. So, remain bullish on Wheat Futures

TRADE SUGGESTION- BUY AT 904.90, TAKE PROFIT AT 920.00 AND STOP LOSS AT 880.00