WHEAT:
SINGAPORE, Oct 21 (Reuters) – CBOT December wheat <WZ0> is technically neutral between $6.73 and $6.93, with an escape from the range needed to determine its next directional move.
But the trend could still be down, as a descending channel is still intact, and the rise from $6.43-½ to $7.39-¾ is labeled as an “a-b-c” wave mode, with an indication that the current fall would eventually drive the price below the Oct. 14 low at $6.43-1/2.
A fall below $6.73 would confirm the resumption of the downtrend, while a rise above $6.93 would find an upper channel line resistance at $6.99.
SUGAR:
(Reuters) – A bullish target of 29.93 cents per lb for New York sugar <SBc1> has been aborted as both its wave pattern and the RSI indicator are implying the rally is approaching an end.>>>>>>>>>>>>> More
No comments:
Post a Comment