WHEAT Approaching Key Support - Will Price Rebound to 550$?

3 Mar

WHEAT is approaching a key support level, an area where buyers have previously shown strong interest. The recent bearish movement suggests that price may soon be testing this level, potentially setting up for a rebound.

A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers step in, the price could rally toward the 550$ target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

Best of luck , TrendDiva

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