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Wheat Price Bias Remains Bearish
The #C-WHEAT price forecast in our June 19, 2020 technical analysis was bearish.
- Market developments after #C-WHEAT,Daily June 19, 2020 technical analysis still indicate bearish bias
- #C-WHEAT,Daily closed 0.8% lower since the technical analysis release on June 19, 2020.
- Reports of better than expected yields in US winter wheat harvest weigh on wheat price.
Here is what indicators show as of June 22, 2020:
- The Parabolic Indicator gives a bearish signal.
- The Donchian channel indicates downtrend: it is tilted down.
- The MACD indicator gives a bearish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give bearish signal.
- The MA(200) Indicator gives a bearish signal.
So the bearish forecast still stands for the #C-WHEAT,Daily.
Order | SELL |
Sell stop | Below 479.8 |
Stop loss | Above 516.4 |
Reuters.
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