Like the Wheat
is massively oversold and is due for some buyers to come in. This market will have the potential to rally back in the 380's - 390's which would be our zone between the 38.2 and 50.0 Fib Retracement. This is also a great area of prior structure in the market. Also, since the market has made a New Structure Low, we can predict a continuation in downtrend after we enter this zone to make another potential New Structure Low. Let me know your thoughts.