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May Wheat/Wayne *PIC*

Here is May Wheat which is setting up for the same 'possible' scenario. Price peaked at 800 (nice round number) and sold off to the old breakout pt of 672. Price then rallied back and broke out above 800 and ran up to 922 in early Feb. So now is the big test to see price come back to the breakout pt of 800. It is a little more questionable as support because you can see price did breakout and bounce up a little and then test it twice already in Dec and Jan. But regardless 'if' price does come back to 800 it would be a high odds buy with a closing stop below at one's comfort level.

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May Wheat/Wayne *PIC*