Wheat Futures (HG1!) D1 I Bearish Drop
Type:
Bearish Reversal
Key Levels:
Resistance: 621’4
Pivot: 590’4
Support: 543’2
Preferred Case:
Looking at the D1 chart, the price could rise towards a pullback resistance and potentially fall toward the 1st Support at 543’2
Alternative Scenario:
Price may break above the Pivot at 590’4 and rise toward the 1st Resistance: 621’4
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.