Wednesday, September 4, 2013

Wheat - CBOT ‏ (Dec 13) MT: capped by a negative trend line.

Pivot: 668

Our Preference: Bearish below 668 with targets @ 623 & 610 in extension.

Alternative Scenario: Above 668 eye a recovery towards 693 and 735 in extension.

Comment: wheat prices are making successive lower-highs and lower-lows and are capped by a descending trend line.
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