WHEATUSD recently hit a high around the $7.16USD area and has been in a small downtrend since. It looks like it may be ready to head back upwards and test resistance again after a nice bounce off of support.Entering around the $7 mark would give us about a 2.37% retrace up to resistance and would be a perfect bounce off of the 0.5 fib.
RSI on the 30 minute and 4 hour charts both look like they are in a position to support this move. Stoch RSI also appears to be in a spot to “roll over” on both time frames mentioned.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.