May hard red winter wheat futures also a buying opportunity on more price strength.
See on the daily bar chart for May hard red winter wheat futures that prices are in an uptrend and this week hit a four-month high. The bulls have good upside near-term technical momentum. A move above chart resistance at Tuesday’s high of $7.12 1/2 would become a buying opportunity. The upside price objective would be $7.65, or above. Technical support, for which to place a protective sell stop just below, is located at $6.91 3/4.
