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Wheat Weekly Forecast

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This/Next Week Forecast (November 23 – 27, 2020)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 611, which will be followed by moving up to resistance level 633.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 580, which will be followed by moving down to support level 543.

Chart Wheat This/Next Week Forecast, Technical Analysis

previous week wheat price forecast

Chart Wheat This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand shows fair price between the levels 500 – 540.

Wheat Market Fundamental Analysis Ending Stocks US With World

Monthly Forecast

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 633, which will be followed by reaching resistance level 705.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 591, which will be followed by moving down to support level 573 and 543.

Chart Wheat Forecast 2020, Long-term Outlook, Technical Analysis

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