Wheat Futures Analysis: Market Trends and Key Levels
The wheat prices have witnessed a significant decrease since May 2022.
After analyzing the different market volume profiles of each weekly up and down trend (as presented by the multiple fixed range volume profile histogram in the chart), we can predict the range or the accumulation of the biggest Wheat whales. This range is presented in a white rectangle in the chart and lies between [580'0 - 490'0] USX BUA.
This range also coincides with the strong monthly support presented by the green line.
The first target of this accumulation is projected to be 760'0 USX BUA, indicated by the red dashed line.
After analyzing the different market volume profiles of each weekly up and down trend (as presented by the multiple fixed range volume profile histogram in the chart), we can predict the range or the accumulation of the biggest Wheat whales. This range is presented in a white rectangle in the chart and lies between [580'0 - 490'0] USX BUA.
This range also coincides with the strong monthly support presented by the green line.
The first target of this accumulation is projected to be 760'0 USX BUA, indicated by the red dashed line.
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