CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

CBOT wheat may test resistance at $6.13-1/4

By Reuters News

SINGAPORE, Nov 11 (Reuters) - CBOT December wheat may test a resistance at $6.13-1/4 per bushel, following its stabilisation around a support at $5.89-1/2.

The support is strengthened by a similar one at $5.90-1/2, the bottom of a wave B. The market's strong reaction to these supports suggests a reversal of the downtrend from $7.06-1/2.

The current bounce is classified as the same degree as the one from $6.70-3/4, to extend towards $6.13-1/4. On the hourly chart, the contract has broken a resistance at $5.99-1/2.

The break would lead to a gain into the $6.05 to $6.08-1/4 range. Support is at $5.96-1/4, a break below which could cause a drop to $5.90-3/4.

* Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are published exclusively on Workspace -- a platform provided by London Stock Exchange.

** No information in this analysis should be considered as being business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses.


wz https://tmsnrt.rs/4f31oy9

tech https://tmsnrt.rs/48Is7MW

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.