Wheat: Analytics and Prediction Weekly Wheat Outlook

Market Analytics and Technical Considerations

Weekly and monthly Upswing and Downturn Key levels

Weekly Prediction (November 28 – December 2, 2022)

Positive Up Trend &  prospect

As soon as the market moves above resistance level 817, an uptrend will begin. If it continues to move above that level after reaching resistance level 842, the market may eventually reach resistance level 920.

A declining tendency

While the market is trading below resistance level 817, the downward trend may be anticipated to continue. Support level 760,2 will then be reached.

Monthly Forecast, November

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 872.4, which will be followed by moving up to resistance level 947 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1037.6.

Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 872.4, which will be followed by reaching support level 743.6.

Simple Moving Averages – Daily