FxPro - Analytics

FxPro

761.75 6.25/10
89% of positive reviews
Real

Wheat Wave Analysis – 27 March, 2019

  • Wheat reversed from resistance area
  • Further losses are likely

Wheat recently reversed down from the resistance area lying between the key resistance level 470.00 (former powerful support from 2018), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from February.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

With the overbought Stochastic indicator – Wheat is expected to fall further and re-test the next support level 460.00.

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