Wheat looks like have found a bottom between 390-400 after forming a Multiple Bottom, a trend reversal pattern.
Currently Wheat is trading within an up trend channel, and also forming a “Higher High, Higher Low” up trend pattern. Expect Wheat continue to move up to 1.618% Fibonacci Expansion target of about 511.6.
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In order to confirm a long term trend reversal, Wheat has to break the 600 resistance.
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