The failure indicates a completion of the bounce from $5.07. A break above $5.82-1/4, however, would suggest an extension of the uptrend towards $5.98-1/4
Russian agriculture consultancy Sovecon said on Monday it had cut its forecast for Russia's 2021 wheat crop by 5.9 million tonnes to 76.4 million tonnes
On the daily chart, the depth of the drop from the July 30 high of 4,498 ringgit suggests a reversal of the uptrend from the June 18 low of 3,251 ringgit