Wednesday, May 28, 2008

Wheat - Just About Ready To Make A Major Move!

There seem to be quite a few commodities that are lining up for some good trades.

While the pattern on wheat does not tell us which way the price will break, it does tell us that there is going to be a decent sized move very soon.

Because the declining wedge pattern we are seeing in wheat typically resolves itself to the upside, I am going to tighten my stop loss on the Soybeans just in case they decide to follow along with the potential rally in Wheat.


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