September 24, 2024
In this analysis of European milling wheat futures as of September 20, 2024, I review the December contract’s performance using both weekly and daily charts. Key resistance levels are highlighted, including the 200-week and 50-day moving averages, which have consistently pushed prices lower. While there is some potential for a trend shift, current conditions remain bearish with prices unable to break through declining averages. A sustained move above these levels is necessary for any bullish momentum to develop.
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