Wheat Technical Chart and Analysis 22nd March 2017

Wheat 1705 extended its decline on Tuesday to close at $423.25. If the decline continues, the initial target will be at $418.28 which could later extend to $416.84. However, any upside will be tested at the 100-DMA at $436.16. The RSI has continued to move down and the Stochastic Oscillator has generated a sell signal supporting a negative view.

 

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