I totally forgot about your selling wheat part of the question. I think you might have swapped the numbers and actually would like to sell 349. This is a good support level and certainly worthy of selling; however I have a problem with the countertrend trades, and that problem is they usually don't work out.

Having said that however, the bean markets and corn both had major fade sessions today which will *almost* guarantee something lower tomorrow. How much lower? That's anyone's guess...which is why I try to stick with the trend. But that's just me. The bottom could fall out of wheat and prices could plummet. If you're comfy with the trade go for it. As far as the numbers go I think you're looking in the right areas.

Erich
http://www.tradershelpingtraders.net
http://www.supportandresistance.com