Wheat appearing to be building out a Bullish Gartely. The breach of the 20 day MA puts us in a possible continued sell off. Downside target for bears is S1 459'1. If Wheat uses MA for another upside bounce we would be looking at further upside to 499'6, but with all the other grain markets in the same condition, down, we expect further downside.
Note
Wheat breached the 20 day MA. Next downside target S1 at 459'1. Since we have a bear flag on that first downside move, we expect further downside.Note
Wheat still down with a lower low. Target S1 at 459'1
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.