• Wheat reversed from support zone
• Likely to reach resistance level 640.00
Wheat recently reversed up from the support zone located between the key support level 625.00, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse 1 from December.
The upward reversal from this support zone stopped the previous ABC corrective wave 2.
Wheat is likely to rise further toward the next resistance level 640.00 (former multi-candle support from the start of March).