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CBOT wheat to fall to $5.66-1/2 a bushel
SINGAPORE: CBOT Dec. wheat will fall to $5.66-1/2 per bushel as a downward wave (3)-3 is unfolding.
This wave is expect
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This wave is expected to travel 1.618 times the length of the wave (3)-1, to arrive at the 161.8 percent Fibonacci projection level. The downside will not be limited to $5.66-1/2, as a bearish flag pattern has been confirmed, pointing to an aggressive target at $5.49-1/4. A rebound from the current level will be limited to $5.85. 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.