Klarenbach Grain Report Chart of the Day

CBOT SRW Wheat

DEC Daily

Daily close at 700

A nice round number.

The second consecutive close above the 61.8 percent retracement.

It could be big.

Or it could be a pivot point.

As my friend Spud would say, "It's a 90/20 probability; we find resistance at this level."

The weekly close matters more.

That is in two days.

Have fun.

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Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report,  Klarenbach Special Crops Report, The Daily Board and The Daily Kernel newsletters.                                                                                                                                                                                                                                                                                                                                                                                                   

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Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.