Market Overview

Technical Forecast for Wheat

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.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


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