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July Wheat Futures - Time For A Bullish Move

Wheat futures completed its downwards move with prices currently ranging right near the projected downward trend line on the H4 chart (see chart below).

July Wheat Futures

Stochs are currently in the over-sold area and it is quite likely that within the next day or two, the stochs should ideally be rising above the 20 level.

On the upward move, Wheat Futures is likely to reach 720 level, which is the projected wolfe wave. However, the move up is not going to be smooth as there are key levels of resistance on the way. Expect some interaction at these levels, which are 696.5, 709 and 720.25

July Wheat Futures - Key Technical Levels