Head & Shoulders Top in December 2022 Wheat?
Paul Wankmueller CMT of Blue Line Futures sees a Head and Shoulders Top in December 2022 CBOT Wheat. Feel free to reach out with any Technical Analysis Questions!
Today Wheat broke through the neckline of a Head & Shoulders top with conviction, confirming the pattern. Using the distance between the neckline and the top of the head, the continuation can conclude at the previous resistance.
Futures trading involves a substantial risk of loss and may not be suitable for all investors. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Today Wheat broke through the neckline of a Head & Shoulders top with conviction, confirming the pattern. Using the distance between the neckline and the top of the head, the continuation can conclude at the previous resistance.
Futures trading involves a substantial risk of loss and may not be suitable for all investors. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Comment:
Almost there!!!
Trade closed: target reached