Wheat is in long- medium- term bull phase .Currently Wheat is in strong downtrend with good momentum but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The Wheat is now trading in oversold level. The oscillator is showing BUY signal For short term Wheat is in HOLD SHORT position.Positionally Support for the Wheat is 1539-1511-1502-.Resistance for the Wheat is 1603-1607-1608-
Short term and Intraday Level of WHEAT
Currently Wheat is in SELL position Wheat is in sideways so for short term better buy above 1601.0 with stop at 1576.0 The Wheat is now trading in highly oversold level. The Wheat is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 1595.2 with a stop at 1579.8 Below 1576.8 go for sell
Intraday Resistance of WHEAT are 1592 : 1597 : 1616.7 : 1628.4 : 1640.2 : 1648.7 : 1657.1
Intraday Support of WHEAT are 1580 : 1575 : 1560.2 : 1548.7 : 1537.3 : 1529.1 : 1521
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