The CBOT SRW Wheat chart is beginning to look interesting for several reasons.
The first is the 2.5-year base pattern-forming phase, suggesting a Stage 1 Accumulation or the early stages of a Stage 2 Markup.
We say 'suggesting' because we are still uncertain whether the Stage 4 Decline is over.
The much-awaited test of the declining purple 200-Week Moving Average is underway, adding to the uncertainty.
I cover this technical setup and specific price targets in depth in the Klarenbach Grain Report.Â
Join 3,500+ farmers getting sell signals and technical roadmaps here:
Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report. Â
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