Wheat CME December contract Daily Forecast – 03 July 2013

Wheat CME December contract Daily Forecast - 03 July 2013
Wheat CME December contract Daily Forecast - 03 July 2013
Wheat for December hit our target of 681/683 & hit a high for the day exactly here as predicted then plunged to retest the 666 low for this contract. We bounced nicely to confirm a bottoming pattern & can look for a rally in to the end of the week. A break above 681/683 resistance looks likely today for 687/688 & a possible stretch as far as 691/692. Look for a high for the day here.

Immediate support is at 677/76 but below here 670. With the outlook more positive we should see the downside more limited but below here a retest of the 666 low for this contract is likely.

Written by: http://www.daytradeideas.com

Wheat -2

Wheat -3

Leave a Reply

Your email address will not be published. Required fields are marked *