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20/12/7 11:30(CET)_Wheat_LONG

Wheat Long. The current contract for wheat traded on CBOT or CFD has reached the limit of 50% Fibonnaci retracement. The technical and fundamental situation this week should move the market back to values around 600 cents per bushel, or USD for CFDs. Friday’s statement by COT after a thorough balance sheet suggests a possible rise in price once again.

Chart and table source: WebTrader


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