WHEAT: The fact that it has risen so close to this level, Chicago Board Of Trade (CBOT) March wheat may return to its December 30 high of $7.99 per bushel. Indeed, on Monday, the contract narrowly missed this goal. This point could be reached in a matter of months.
The question of where the contact might go after it reaches $7.99 is a more pressing one. A Fibonacci projection analysis is able to identify a target zone between $8.04-3/4 and $8.15-1/2 by making the assumption that wave C is unfolding.
The support at $7.87 appears too close for practical use. To determine whether the uptrend that began at $7.42 has turned around, the lower support at $7.78-1/2 is used.
Strategie Grains enhances EU wheat crop forecast once more On the daily chart, it is presumed that the current rise is in opposition to the downtrend that began at $9.62. A target of $8.07-3/4 is revealed by retracement analysis of the trend.
Gains are likely to extend into the $8.37-1/4 to $8.66-1/2 range once the contract holds above $8.07-3/4.
15 thoughts on “Internationally Wheat Prices May Again Surge All Time High”
Comments are closed.
Hello btrams.com admin, Thanks for the valuable information!
Hi btrams.com admin, You always provide clear explanations and step-by-step instructions.
Dear btrams.com webmaster, Your posts are always well-received by the community.
Hi btrams.com owner, You always provide useful information.
To the btrams.com admin, Your posts are always informative and well-explained.
Hi btrams.com administrator, Good job!
Hi btrams.com administrator, Keep the good content coming!
Hello btrams.com administrator, Your posts are always well-formatted and easy to read.
Hello btrams.com administrator, Your posts are always well-received and appreciated.
Hi btrams.com webmaster, Your posts are always informative and well-explained.
To the btrams.com webmaster, Thanks for the educational content!
Hello btrams.com admin, Your posts are always well-written and engaging.
Hi btrams.com admin, Thanks for the well-organized and comprehensive post!
To the btrams.com admin, You always provide great examples and case studies.
To the btrams.com owner, Your posts are always a great source of information.