Wheat Futures (RB1!) D1 I Bullish Breakout
Type:
Bullish Reversal
Key Levels:
Resistance: 571’0
Pivot: 533’2
Support: 500’6
Preferred Case:
Looking at the D1 chart, Price is showing bullish momentum above the pivot and could rally toward the 1st Resistance at 571’0
Alternative Scenario:
If Failure to hold above pivot at 533’2 could see a pullback toward 1st Support at 500’6
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.