WheatSeasonal Trend in Play
Technicals (July) Wheat futures are higher in the early morning trade, but as a (disgruntled) member of the Bull camp, we have our expectations tempered. Despite the early morning strength, the Bulls still have their work cut out for them. 665-670 remains the big resistance pocket the Bulls want/NEED to get out above to spark a wave of short covering. That could potentially open the door for a run towards the 720 neighborhood.
Bias: Bullish/Neutral Previous Session Bias: Neutral/Bullish Resistance: 665-670***, 717-722***, 730-735*** Pivot: 640-650 Support: 600-605** |
CLICK HERE TO: Sign Up for Market Research - Blue Line Futures
Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.
