FxPro - Analytics

FxPro

727.25 6.25/10
91% of positive reviews
Real

Wheat Wave Analysis – 21 February, 2019

  • Wheat reversed from support area
  • Further gains are likely

Wheat today reversed up from the support area lying between the key long-term support level 473.00 (which has been reversing the price from the middle of last year, as can be seen below) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

Wheat is expected to rise further and re-test the next round resistance level 500.00 (former support from last December).

1550760664

Source: FxPro


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree