Technical Forecast for Wheat

Wheat for December making a recovery today as predicted & has this morning gapped above 651/652 to hit 660. This is very bullish price action & could see us continue higher for 662/663. We should struggle here & cannot rule out a high for the day but any shorts need stops above 665 for a move towards 670/671.

 

Immediate support is 658/657 but below here risks a slide to 653/652 for a buying opportunity. However longs need stops below 651 as a break lower risks a slide to fill the gap at 648 for a second buying opportunity.