Wheat prices soared the top mark — setting the next target

03 October 2022 253
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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.

This content is for informational purposes only and is not intended to be investing advice.

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