Our preference: SHORT positions below 650 with 638 & 631 as next targets.
Alternative scenario: The upside penetration of 650 will call for a rebound towards 661 & 667.
Comment: the break below 650 is a negative signal that has opened a path to 638.
Wednesday, September 4, 2013
Wheat (Dec 13) intraday: turning down.
Pivot: 650.00
Our preference: SHORT positions below 650 with 638 & 631 as next targets.
Alternative scenario: The upside penetration of 650 will call for a rebound towards 661 & 667.
Comment: the break below 650 is a negative signal that has opened a path to 638.
Our preference: SHORT positions below 650 with 638 & 631 as next targets.
Alternative scenario: The upside penetration of 650 will call for a rebound towards 661 & 667.
Comment: the break below 650 is a negative signal that has opened a path to 638.
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