. Wheat Price News & Weekly Chart Analysis - 14 April 2023

Wheat Price News & Weekly Chart Analysis – 14 April 2023

14 Apr 2023

Wheat Futures Technical Analysis: Weekly Chart

weekly chart

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

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 600.00 the resistance level is at 700.00

Wheat Future will trade in a down channel until its trend reversal.

Wheat Futures Technical Analysis: Daily Chart

weekly chart

In the daily charts, Wheat Futures is trading in a down channel. Wheat Futures is currently trading below all SMA.

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 620.00 the resistance level is at 690.00

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

How to Trade Wheat Futures this Week:

Wheat Futures will follow the downtrend until its trend reversal. So, remain bearish on Wheat Futures

TRADE SUGGESTION- SELL AT 663.90, TAKE PROFIT AT 600.00, AND STOP LOSS AT 700.00