Technical forecast for Wheat

wheat

Wheat for December now testing recent lows at 667. A break lower in this bear market cannot be ruled out and in fact looks likely. This could target 660/59 then 654/53 today.

If we manage to hold on to 667 we may struggle back to 670. Above here is less negative & may allow a test of 675/676 but no higher today we think.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More