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TFC Commodity Trading Forum

Wheat *PIC*

The wheat is descending into a price zone that should offer some stout support for all kinds of technical reasons that are evident on this chart. I'll be watching for a 5th wave swing low to form somewhere within the grey bubble. The fibonacci's projected down off the 3rd wave has the 50% @ 678, and the 61.8% projects down to 660. So, i'm anticipating the 5th wave swing low to land somewhere in that range.