May Wheat appears to have fulfilled its Fibonacci corrective needs with dropping 618 percent of the upward move that started in November as well as showing us a huge “key reversal” bar in the process. So not only does it appear to be a “buy” technically, the fundamentals are bullish as well. Depending on the open, we will look to buy a 800/870 Bull Call Spread and sell a 730 put as a naked leg. According to a Fibonacci prediction, we could see Wheat run to 986 in the next few weeks. With that in mind there are several other strategies that you could employ so call us to see what works for you.
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