Wheat ETF WEAT Expected To Remain Under Pressure Into February
Mike Macdonald | Jan 26, 2015 02:42AM ET
Teucrium Wheat (NYSE:WEAT)
Prices have broken still lower, with expectations for further losses into February as weekly studies deteriorate. Focus is now on the USD11.00 break level, with critical support at the USD10.62 year low of September 2014 thereafter. Some consolidation is possible around here, but a further break cannot be ruled out, with psychological support at USD10.00 to then attract. Resistance into limited gains is up to the USD11.73 high of 22 January, but the fresh bear signal should limit any gains, with a break of here not looked for.
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