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From : Commodities Daily Hotline: 28 August 2015
Chart of the day: CBT Wheat retests support...

 

With the 50-day Moving Average continuing to provide resistance, the Wheat instrument has eased within its short-term range forming beneath this month's earlier high at 533.25.  Support at the May/mid-August floor at 485.75 is under scrutiny once again.  We will consider selling in the event of a breach, which would take the price to new contract lows. 

 

 

 

 

N.B.  Due to a public holiday in England , the next hotline will be published on Tuesday 1 September.






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