SINGAPORE: CBOT December wheat may fall to $6.88-3/4, as it has broken a support at $7.01-1/2 per bushel.
The next support will be at $6.88-3/4, a break below could open the way towards $6.77.
Even though the current move observes closely a set of projection levels based on the uptrend from $6.18-1/4, its relation to the uptrend looks really doubtful.
A break above $7.01-1/2, now a resistance, may lead to a gain at $7.16-1/2.
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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