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Markets

CBOT wheat may fall to $6.88-3/4

  • The next support will be at $6.88-3/4, a break below could open the way towards $6.77
21 Sep 2021

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.

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