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| DEC Wheat |
The grain market ( corn and wheat) after a slide last week could have bottomed in a wave 2 on Friday. As you can see the chart labeled below on Dec wheat ,we have touched the .786 support level to finish the possible wave 2. Now i will be watching for an Intra day 5 wave move to higher prices and a possible break of 659/3/4 as my first clue that wave 3 may be underway. This is my main count as of now. Invalidation would be a push below 577 3/4 on the daily chart. we will see what happens here.
Small position long from 625 this morning basis dec.
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