Wheat update

ZWZ20

Wheat has traded above the 590.00 long term swing point for seven weeks now and now closed back below it. This level is 23.6% back to the 2008 high and 38.2% back to the 2012 high. The target now with the close below 590.00 is 535.00 to 530.00, this area is 61.8% back to the July low, 50% back to the 4/30/19 low and a major Gann square.Provided they can get a couple solid closes back above 590.00 the long term target is 730.00, this 38.2% back to the all-time high and a major Gann square.