WHEAT at Key Resistance Zone - Sellers Ready to Step In?

4 feb

WHEAT is approaching a key resistance zone, an area that has previously triggered strong selling pressure, making it a key level to watch.

If rejection occurs—such as wicks, bearish engulfing patterns, or a shift in momentum—sellers could regain control, driving the price lower toward the 559.0 target. This aligns with a short-term pullback scenario within the broader market structure. However, a sustained breakout above this resistance would invalidate the bearish outlook, potentially opening the door for further upside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments.

Best of luck , TrendDiva

5 feb

Trade attivo

6 feb

Trade chiuso: obiettivo raggiunto