Wheat prices soared the top mark — setting the next target

03 October 2022 159
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Wheat prices continue to move in line with the medium-term upward trend. The previously designated target of 940 was successfully achieved on Friday.


The rise looks confident: drawdowns below the trend line are redeemed within 1-2 days, while the RSI indicator is situated far away from the overbought zone. It means any significant corrections are still not needed to sustain the growth, a rollback to the trend line is enough.


After gaining a foothold at the mark above 940, the growth targets can be rearranged to the levels of 985 and 1040.

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