SINGAPORE: CBOT December wheat is expected to break a support at $6.87-3/4 per bushel and fall into $6.73-$6.81 range.
The current fall is presumed to be riding on a wave c, the third wave of a three-wave cycle from $7.33-1/4.
This wave is expected to travel into a range of $6.59-3/4 to $6.81.
Resistance is at $6.94-1/2, a break above which could lead to a gain to $7.02-1/2.
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.
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