Kansas City Wheat Price Consolidates Below Key Moving Averages
Kansas City Wheat (KE) is currently trading at US$705.75, down 1.09% on the day.
The asset remains below its key short- and medium-term moving averages but holds above longer-term trend levels.
A combination of technical indicators issue sell signals, with weak momentum and subdued trend strength, yet show some oversold readings.
Price is forecast to consolidate between US$696.53 and US$716 over the next 2-3 days, with a high probability of further downside.