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Wednesday, August 10, 2022

CBOT wheat may test support at $8.60-1/4

SINGAPORE: CBOT wheat may test a support at $8.60-1/4 per bushel, a break could open the way towards $8.21.

The contract is riding on a wave C which is travelling to $8.60-1/4, its 100% projection level.

Generally, this projection level works as a good support, which may temporarily stop the fall and trigger a bounce.

CBOT wheat may retrace towards $7.84-1/4

A break above $8.94 may lead to a gain to $9.18-1/2.

CBOT wheat may test support at .60-1/4

Source: Brecorder

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