WHEAT at Key Support Zone – Bullish Bounce Expected

27 Feb

WHEAT has approached a key support zone, marked by previous price reactions and strong buying interest. This area has previously acted as a demand zone, increasing the likelihood of a bullish bounce if buyers step in.

The current market structure suggests that if the price confirms support within this zone, we could see a reversal toward 573.0, a logical target based on prior price behavior and current structure. A clear bullish signal, such as a rejection wick or bullish engulfing candle, would strengthen this outlook.

However, if the price breaks below this support zone, the bullish scenario may be invalidated, signaling potential further downside.

Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!

27 Feb

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