July HRW wheat futures a Buying Opportunity on More Price Strength
See on the daily bar chart for July hard red winter wheat futures that prices are in an uptrend and have just hit an 11-month high. The bulls have gained good upside technical momentum recently, to suggest prices can continue to trend sideways to higher in the near term. A move above this week’s high of $8.17 would become a buying opportunity. The upside price objective would be $8.80, or above. Technical support, for which to place a protective sell stop just below, is located at $7.80.
