Wheat price increased 2.1%

Fast Moving Market - 29/03/2023

29 March, 2023

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: Wheat price increased 2.1%. Wheat prices are rising sharply as supply uncertainty continues to remain strong.

Possible Scenarios:

If Wheat fails to breach through R1 of 713.73, our Research Department expects the Wheat to undergo a short- term downward correction.

If Wheat manages to break above its R1 of 713.73, our Research Department expects the Wheat to extend its gains to its R2 of 724.04.

Support and Resistance Levels:

Wheat	S3	S2	S1	Reference Price	R1	R2	R3
Wheat	665.66	675.96	686.27	700.00	713.73	724.04	734.34

Potential Profit or Potential Loss Calculations:

1 dollar per 1 trading lot*			USD	EUR**	GBP***
1 dollar per 1 trading lot*			(+/-) $100	(+/-) €92.11	(+/-) £81

*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08566
***GBP/USD = 1.23453
Calculations for exchange rate used as of Wednesday, March 29, 2023, GMT +1 12:00h

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