Business Recorder - Markets - Commodities https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Thu, 13 Aug 2026 22:18:02 +0500 Thu, 13 Aug 2026 22:18:02 +0500 60 CBOT wheat to gain to $8.16/bushel, uptrend resumes https://www.brecorder.com/news/5031/cbot-wheat-to-gain-to-816bushel-uptrend-resumes <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" alt=" " src="https://i.brecorder.com/images/stories/pics2011/wheat.jpg" width="400" height="264" />SINGAPORE: CBOT March wheat could have resumed its long-term uptrend towards $8.16 per bushel, based on its wave pattern.</p> <p class="MsoPlainText">The rise from a Feb. 23 low at $7.23 has taken such a long time and risen to such a high level that it appears to be more than a rebound and could be the early part of a new uptrend.</p> <p class="MsoPlainText">A Fibonacci projection of the current wave "3" target points to $8.16, the 161.8 percent level, based on the length of the wave "1".</p> <p class="MsoPlainText">A further retracement from the current level could be limited to support at $7.72-3/4.</p> <p class="MsoPlainText"><CENTER><B><I>COPYRIGHT REUTERS, 2011</B></I><BR /></CENTER></p> SINGAPORE: CBOT March wheat could have resumed its long-term uptrend towards $8.16 per bushel, based on its wave pattern.

The rise from a Feb. 23 low at $7.23 has taken such a long time and risen to such a high level that it appears to be more than a rebound and could be the early part of a new uptrend.

A Fibonacci projection of the current wave "3" target points to $8.16, the 161.8 percent level, based on the length of the wave "1".

A further retracement from the current level could be limited to support at $7.72-3/4.

COPYRIGHT REUTERS, 2011

]]> Markets https://www.brecorder.com/news/5031 Mon, 28 Feb 2011 12:56:45 +0500 none@none.com (Abdul Ahad)