Wheat Doesn't Quite Target Strong Resistance At 499/500
Jason Sen | Nov 24, 2015 02:07AM ET
Wheat holding above 492 is positive for today and allows another chance to target strong resistance at 499/500 for an excellent selling opportunity. A high for the day expected but shorts need stops above 502. A break higher targets minor resistance at 504/505 but if we continue higher this week look for a selling opportunity at 510/511.
First support at 492/491 but below here kills hopes of a short term recovery and targets 488. If we continue lower look for 485/484 before a retest of last week' lows of 480/479. Just be aware that further losses target 475/476 then 472/471 & 468.
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