Wheat reached the resistance and holded after breaking the trendline mentioned in previous comment (see below).
I'm expecting it to drop at first to the Fib 0.382 lvl marked in the white dotted line.
From there on we will see. If it drops further then we are heading to the support of ~$5.45.
I actually took the selling idea mentioned in the chart as I was writting this. Let's see.
Good luck Traders
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
I'm expecting it to drop at first to the Fib 0.382 lvl marked in the white dotted line.
From there on we will see. If it drops further then we are heading to the support of ~$5.45.
I actually took the selling idea mentioned in the chart as I was writting this. Let's see.
Good luck Traders
Note: I'm no trading expert nor have the ambition to become one! The above is just an idea that I share with the intention of attracting comments and perhaps become a better trader.
