Wheat:
We have rolled over to the DEC16 contract.
Price action is not really giving away a lot and has been puzzling us more than one time during the past months. The descending wedge that we see in this chart usually is a reversal pattern from where price aggressively trades up but the break out of the upper line of same wedge was't really impulsive.
We are going to lean back and take a 'wait & see' attitude on this chart for one or two weeks.
We have rolled over to the DEC16 contract.
Price action is not really giving away a lot and has been puzzling us more than one time during the past months. The descending wedge that we see in this chart usually is a reversal pattern from where price aggressively trades up but the break out of the upper line of same wedge was't really impulsive.
We are going to lean back and take a 'wait & see' attitude on this chart for one or two weeks.
