Markets
CBOT wheat to fall to $6.30/bushel
SINGAPORE: CBOT March wheat will fall to $6.30 as a double-top has formed around $6.56 per bushel.
The target is based
By
SINGAPORE: CBOT March wheat will fall to $6.30 as a double-top has formed around $6.56 per bushel.
The target is based on the price difference between the head at $6.56 and the neckline at $6.43. The formation of the pattern confirms the completion of a small five-wave cycle from $5.77-1/4 to $6.56.
An arrival of the price at $6.30 will point to a lower target at $6.19-1/4, which is the presumed wave "4" trough.
No information in this analysis should be considered as being business, financial or legal advice. 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.
More Stories
Comments
Comments are closed for this article.