Support and Resistance Trading Forum

March Wheat *PIC*
By:Erich (vendor, CTA)
Date: 1/4/2009, 8:12 pm

I'm just tossing this one out for giggles because it's Monday after the Christmas break and things could get a little crazy to start the week so I'm opting to stand aside and watch the carnage instead of playing. ;-)

March Wheat is trading off a relatively strong resistance area at 615 1/2. You can see we have several hits in this area and I think it could be enough to hold the market down - at least for a short term move lower. If prices move lower on Monday that would be a sell signal. The more ambitious among you could sell the lows on Monday instead of waiting.

If it fails to head lower from here look for a run to 726-ish.

Erich

Responses To This Message

Re: March Wheat
Erich (vendor, CTA) -- 1/6/2009, 1:20 am
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