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Mini-sized Chicago SRW Wheat Futures (May 2017)
Short

Wheat Bearish Flag

By hopscotch
Updated
May Wheat is forming a bearish flag. Could fall into Cypher extension heading for a double bottom. Looking for confirmation of a start near centre of the flag downwards and continues downwards. RSI still trending downwards
Note
Wheat fell off of bearish flag today. Looking for sell to 406'7 this week
Note
406'7 is for Wheat mini and 420'6 is for July Wheat
snapshot
Note
Wheat remained bottom 25% of bar. Looking for further selling to 430. New projection is now a bullish bat / butterfly. Anticipating double bottom at 420'6.

snapshot
Note
Wheat made a shooting star and another possible bearish flag today. Could see another move down into extension and 420'6.
Bearish FlagcypherextensionCypherWheat
hopscotch
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