Wheat CME: A Negative Turn Possible
Jason Sen | Sep 03, 2014 05:38AM ET
Wheat outlook could be turning more negative this week. Yesterday we broke 560/559 and fell sharply to 551/550. We could continue lower today for a retest of August lows at 545/543. This is key of course and a break lower would target 538/37 then 532/531.
Immediate resistance at 560/61 could hold a move higher but above here meets this week's high at 566. Any shorts need stops above 570 as we could then retest last week's high at 579/580.
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