Wheat. technical levels....來自Aleksandr Shirin

05 Jul 2023, 17:16 · 閱讀量 67

Wheat quotes peaked in March 2022. Since then, the Bears have taken over and to this day we are seeing 
a downtrend. A few weeks earlier, the support level of 674.25 was broken. Lateral movement in the range 
of 580-740 is possible in the near future. After breaking the low at 576, the next stop is possible at 416.50 support.

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喜歡的話，讚賞支持一下

Now - a little respite. The intermediate goal of 1915 was achieved. Here, many short positions were closed. By the way, my sales, which I wrote about earlier, also closed here with a small profit. Now everyone needs to gather their strength. I think there may be some local upward movement after the (possible!) breaking through the level of 1920. Next, most likely, there will be some consolidation with attempts to test 1915 again. After consolidation, I expect the downward movement to continue with an assault on 1900 - 1980.

Aleksandr Shirin

Another support, and apparently there will be a breakdown. Gold quotes have come up and are already testing the next support at 1909.80 with all their might. After a breakout, you can open a sale. You can take profits in the area of the previous minimum in the area of 1900, but in all likelihood there is a chance to reach 1880. The current support of 1909 is now important because the last lower line of the Fibonacci fan, built from the impulse of the end of summer of the previous year to the last maximum value, passes through it on the chart (I talked about this fan in one of the previous posts). A breakdown of the last supporting ray of the fan may mean that quotes are ready for a long-term decline.

Aleksandr Shirin