On the daily chart you can see ADX numbers dropping showing the strong trend down weakening. More importantly see DI Differential, something is about to happen. MACD is riding the signal line with no divergence and Stochastics are just starting to correct out of oversold territory. You can also see on the daily chart why I disagree with the phrase “Sell wheat, sleep on the street.” The coming USDA Perspective Plantings may push wheat up or down.
Click to enlarge.
Have a prosperous trading week.
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