Wheat is once again showing its bullish side and is taking the first upward step out of the sideways movement of recent weeks. In the further course, the price should now continue the blue wave (c) and complete the superordinate wave A in turquoise. Following this, we expect a sell-off. Within the framework of our alternative scenario, however, it remains 37% likely that the price will once again fall below the support level at USX 495.25 in order to make a lower low of wave Alt. (b).
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š Free daily market insights combining macro + Elliott Wave analysis
š Spot trends early with momentum, sentiment & price structure
š Join thousands trading smarter - full free analyses at dailymarketupdate.com
š Spot trends early with momentum, sentiment & price structure
š Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.