12th Jul - Wheat Has Sprung to Life
12 July 2012
WEEKLY CHART – CONTINUATION:
After earlier finding support around the 583.50 Nov-09 high the recovery looks to be heading towards the long term 50% level and Feb-11 high.
DAILY CHART – Sep-12:
After recent breach of the 729.25 21-May high and 38.2% retracement continued recovery has reached the 61.8% level, with not much sign of fatigue yet.
So keep in mind the higher 880.00 76.4% level, as well as a Fibo projection around 900.00, as next potential resistance.
Support comes from that 729.25 21-May high now.
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