Dec Wheat Futures Hit 700: Pivot or Resistance?

Klarenbach Grain Report Chart of the Day

CBOT SRW Wheat

DEC Daily

Daily close at 700

A nice round number.

The second consecutive close above the 61.8 percent retracement.

It could be big.

Or it could be a pivot point.

As my friend Spud would say, 

"It's a 90/20 probability; we find resistance at this level."

The weekly close matters more.

That is in two days.

Have fun.

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Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report,  Klarenbach Special Crops Report, The Daily Board and The Daily Kernel newsletters.                                                                                                                                                                                                                                                                                                                                                                                                   

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