Wheat Wave Analysis – 25 November, 2019

Wheat broke daily down channel
Likely to rise to 530.00

Wheat recently broke the resistance trendline of the daily down channel from October (which enclosed earlier ABC correction (ii)) – which accelerated the active impulse wave (iii).

The active impulse wave (iii) belongs to the intermediate upward impulse sequence C from end of August.

Wheat is expected to rise further toward the next pivotal resistance level 530.00 (which reversed the price sharply in October and July).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Next Citibank Wave Analysis – 25 November, 2019 »

Previous « GBPJPY Wave Analysis – 25 November, 2019

Published by

The FxPro Tech Analysis Team

Tags: WHTUSD

6 years ago

The funeral for Gold has been postponed
The Supreme Court, with its scepticism about the legality of tariffs, has allowed the shiny…
Crypto bulls fail to maintain momentum
Crypto market stabilises after decline; Bitcoin rebounds but faces pressure. Mixed investor sentiment and notable…
Verbal interventions do not help yen
The weak yen and euro boost the USD, as central banks remain cautious and global…