WHEAT Break and Retest

8 gru 2020

Price has broken above the daily falling trendline resistance area and has come back to retest and confirm it as new support. This test/rejection also coincides with the 50% fib expansion level. I'm looking for a potential move to the most recent swing high for my first target. If that level holds, then I will more than likely trail up my stop or close the position. If price continues through the level, then I will use the 161.8% fib level as my potential second target.