Wheat Wave Analysis – 18 November, 2019
November 18, 2019 @ 17:22 UTC
- Wheat broke support area
- Likely to fall to 490.00
Wheat recently broke the support area located between the support level 502.00 (which stopped the earlier impulse wave 1) and the 38.2% Fibonacci correction of the previous ABC correction (2) from August.
The breakout of this support area is aligned with the active impulse 3 and (3).
Wheat is expected to fall further toward the next pivotal support level 490.00 (former resistance from September and support from October).