July HRW wheat futures a selling opportunity on more price weakness.
See on the daily bar chart for July hard red winter wheat futures that prices have seen a tepid, short-covering bounce from the April low, but a downtrend is still in place and the bears still have the overall near-term technical advantage. A move below technical support at $7.30 would become a fresh selling opportunity. The downside price objective would be $6.50, or below. Technical resistance, for which to place a protective buy stop just above, is located at the April high of $7.63
