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looking over the continuation chart here on chi wheat I came across this pattern AB have finished and the C leg of this pattern may have finished this week . 2ndly we have hit a up trendline and bounced today... This pattern does allow for a drop towards 384 but must not close below it..... about a 60 cent downward move from here......... very interesting as we are hitting some numbers in the rest of the complex in corn and oats and beans possibly projecting a end to the downtrend correction...... could a upward move be coming?
This is just my opinion so take it as that........I have no idea where this market can go!
current positions: ( long oats and corn.... and natural gas.....
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Edited by Mr Enigma 3/2/2016 12:47
 (wheat continuation.png)
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 wheat continuation.png (78KB - 299 downloads)
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chi wheat continuation chart....... very interesting large pattern forming
