Wheat has touched trend line support at around 907, and has rebounded resolutely higher. Note that the 50-day moving average is also providing on-going support for wheat prices. Both the trend line and the moving average are depicted on this chart in light blue. If this continues, we should see a break-out, either up or down, within the next few days or weeks.
Thursday, January 31, 2008
Wheat Touches Trendline Support, Moves Higher
