Wheat Futures Under Pressure: Breakdown Near Key Support

• Short-term trend: Bearish. Price is consistently making lower highs and lower lows since late February.
  
• Medium-term trend: Also bearish, as confirmed by price staying below the midline of the Bollinger Bands.
  
• Price is near the lower Bollinger Band, suggesting it is oversold in the short term. However, it has not shown signs of a strong reversal yet.
  
• Volume is slightly above average on the most recent red candle, confirming bearish conviction.
  
• Support Zone: Around 520'0 – psychologically and structurally important.