Wheat Technical Chart and Analysis 2nd February 2017

Wheat 1703 continued with its upward movement and closed at $432.25. Currently, the short and the medium term moving averages are heading upwards indicating that the upward movement is likely to continue. If the increase extends further, the initial target will be at $439.00, while any downside will be tested towards $426.80 (14-DMA).

 

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