Technical forecast for Wheat

wheat1

Wheat for December held resistance at 657/658 as expected & just held above the gap at 648/646 & our buying opportunity. Watch this level again today but longs need stops below 644.

Resistance at 657/658 could hold the topside again today but above here look for a selling opportunity at 662/663 with a high for the day expected. Stops on shorts above 665.

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