giles_t_error

Waiting game on wheat

CBOT_MINI:XW1!   Wheat Mini Futures
Consolidation in price could lead to another strong move to the upside. Finding support near a lower medium line and inner warning line on two schiff pitchforks. Retracement from the high at 62%, but need to wait for confirmation of upward move.
Comment:
Wheat is reacting to the lower medium line which is acting as support

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