- Wheat broke key resistance level 550.00
- Further gains are likely
Wheat today broke through the key resistance level 550.00 (top of the previous short-term impulse wave 1 from the middle of June).
The breakout of the resistance level 550.00 accelerated the active short-term impulse wave 3 from the middle of June.
Wheat is expected to rise further and retest the next resistance level 570.00 (target price for the completion of the active impulse wave 3).