India’s wheat exports jumped to USD 872 million during April-October period in the current fiscal on account of healthy demand, with Bangladesh emerging as the top destination, the commerce ministry said on Friday. In volume terms, wheat exports during the said period rose by more than 527 per cent to 3.2 Million Tonnes (MT) from 0.51 MT in the year-ago period.
From the overview of price of wheat, we could see that the overall trend of price is bearish. Price is currently at the resistance zone between 761 and 747 and is likely going to make a reversal to the support zone.
Price is in a bearish trend and may likely break the resistance zone to continue in it bearish move. We could also see that the RSI is also approaching the oversold level.
After a blockbuster 2021, U.S. stocks started the new year on the front foot, despite a steep rise in COVID-19 cases in most of the 50 states. At the market close, the S&P 500 gained 0.64%, ending the session at 4,796, a whisker away from its all-time high of 4,808. Meanwhile, the Nasdaq 100 jumped1.11% to 16,502, boosted by strong gains in Tesla shares, which soared 13.55% after fourth-quarter vehicle production and delivery results easily topped Wall Street’s expectations.
From the price overview we could see that the price of us100 is bullish after price broke previous structure to the upside. Price seems to have retested the support zone between 16467 and 16293 which has a confluence with the 50EMA. We could see that the RSI and MACD are above the centre-line which signifies a bullish trend.
The overall trend of price in gbpusd is bullish. We could see that price has broken previous structure to push price in its bullish direction. Price is currently making a pullback to the support zone between 1.34056 and 1.33490 which is also the FIBO golden retracement level and a possible retest of the 50EMA before pushing price to the upside.