July Wheat has made a bullish flag and tried to escape it today. Wheat still in downtrend and market full of wheat right now, so still looking for further downside. Upside target reversal may come at 449 downtrend line if flag doesn't decay. If broken and stable we could see a short term turn around. RSI has come to downtrend line so caution should be taken.
Note
Wheat continues down off trend line. New target 430'4Note
Wheat fell off of bearish flag this morning and went through 430'4. New target 419'4
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.