Technical Forecast for Wheat

Wheat for December held resistance at 670/671 & fell as far as support at 658/657 to bottomed exactly here. This could hold the downside again today but if we fall as far as 653/652 use this as a buying opportunity. Just be aware that a break lower should fill the gap at 638.

 

Resistance at 662/663 but above here we could revisit 670/671 which could hold the topside again. Exit longs but any shorts need stops above 671 for this week’s high at 676/677.