Technical Forecast for Wheat

Wheat for December did push higher to 672 where we predicted a high for the day & we topped exactly here. This trade should work again today but shorts need stops above 674 as we could then continue higher towards 678/679 for a selling opportunity.

 

Below 666 risks a slide to this week’s low of 662. We are in a bear trend so a break lower always possible for support at 660/59 then 654/53 today.