CBOT Wheat Futures

[farming101]

At what point does this go from being a correction within a bull market, to something else?

March Chicago wheat closed at 7.56 today. Good support level at 7.46 1/2.

[wheatking16]

Taking a look at the WEAT ETF, we see a rise in prices on declining volume.

I don't focus too much on volume, however, it is difficult to trust rallies when it is declining.

Perhaps, someone else can comment on this.

I anticipate a 1-4 week pullback in both WEAT and CBOT beginning in the next week or two.

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We are on week 3 of the 1-4 week pullback and in the middle of previous supply.

[farming101]

Well, that "good support level" at 746 1/2 is being tested today

[wheatking16]

Well, that "good support level" at 746 1/2 is being tested today

Mister, you have been precise with your calls.

I am interested in your process if you are up for a little teaching.

Today's close is on the VWAP from the July low.