Tuesday Forecast

Uptrend scenario

The uptrend may be expected to continue, while the wheat market is trading above support level 596, which will be followed by reaching resistance level 612.50 and if it keeps on moving up above that level, we may expect the wheat market to reach resistance level 625 - 633.

Downtrend scenario

A downtrend will start as soon, as the wheat market drops below support level 596, which will be followed by moving down to support level 573.

This/Next Week Forecast (November 16 - 20, 2020)

Uptrend scenario

An uptrend will start as soon, as the wheat market rises above resistance level 596, which will be followed by moving up to resistance level 633.

Downtrend scenario

The downtrend may be expected to continue, while the wheat market is trading below resistance level 596, which will be followed by reaching support level 573 and if it keeps on moving down below that level, we may expect the wheat market to reach support level 543.

Previous week wheat price forecast

Fundamental Analysis

The difference between supply and demand shows a fair price between the levels 500 - 540.

Monthly Forecast

Uptrend scenario

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

Downtrend scenario

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