Wheat WHEAT technical analysis

Wheat is under immediate selling pressure, with the 24h price down and 4h RSI14 at 30 indicating oversold momentum, though the broader daily trend remains up above key SMAs. Price is now battling the 4h support zone at 729.399-731.601, which has seen only 1 touch, leaving it thinly defended against a slide toward the 713.899-716.101 or 707.649-709.851 supports, each also with 1 touch. On the upside, resistance clusters at 742.399-744.601 and 754.649-756.851 each show 1 touch, while 764.5-767.5 has 2 touches. For bulls, reclaiming and holding above 731.601 is critical to halt the drop and target 742.399, while bears need a firm close below 729.399 to open the path toward 713.899. The daily rising support trendline near 638.4 remains a distant but relevant floor.