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Monday, October 18, 2021

CBOT wheat may test resistance at $7.25-3/4

SINGAPORE: CBOT December wheat may test a resistance at $7.25-3/4 per bushel, a break above which could lead to a gain into $7.31-1/2 to $7.40-3/4 range.

The contract is riding on a wave c, which may extend to $7.25-3/4.

Given that the wave c has not been disrupted by any decent correction, it may be affected by a drop when travelling to $7.25-3/4.

Support is at $7.10-1/2, a break below which could cause a fall into $6.95-1/4 to $7.05-3/4 range.

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Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

CBOT wheat may test resistance at .25-3/4

Source: Brecorder

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