Wheat

ZWZ20

Wheat did break out of its 4 year trading range, the top end of it was 23.6% back to the 2008 high and 38.2% back to the 2012 high at 590.00. Use 590.00 as the long term swing point now and as long as they continue to close above it the target is 730.00, this is 38.2% back to the all-time high. With a couple close's below 590.00, the target is 535.00 this is 50% back to the 4/30/19 low and 61.8% back to the 6/26/20 low and a major Gann square.