Special Wheat Update
March Wheat from last week,
It could not get up to 38.2% at 807.00, but did hit the 795.50 major Gann square and this reset the 38.2% level below to 764.00. Also right there is the 765.25 major Gann square and this is the area that needs to hold, to keep the upside targets intact for now. A failure to hold this area turns the short term trend negative and it can send it down to the area of the 736.25 major Gann square and 78.6% at 731.00.
Use 764.00 as the swing point for the week.
It failed to hold the 764.00 swing point for the week and has now hit the target area of the 736.25 major Gann square and 78.6% at 731.00.
Here is what to look for now.