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Saturday, December 15, 2012

US WHEAT SHORT TERM TREND & TRADING LEVELS : TIME FRAME 1- 4 WEEKS : 15 DEC 2012


BEST BUY & SUPP @ 837 (CURRENT RESISTANCE) ACTUAL RESISTANCE & BEST SHORT LEVEL 859.40 , A BREAK ABOVE 881.80 UPSIDE TGT IS @ 930.80/952.90 ; HOWEVER A CRACK BELOW 814.60 DOWNSIDE TGT IS @ 766/743.80

LTP - 813.90

TREND : BEARISH WITH BULLISH STREAK

STRATEGY : WHEAT HAS FACED THE SHORT TERM RESISTANCE @ 861.80 (PREVIOUS WEEK HIGH) AND CRACKED TO MAKE A LOW OF 801.62 & CLOSED THE WEEK @ 813.88

TRADER'S CAN TAKE A BUY POSITION @ CURRENT LEVELS FOR TGT 825 - 836 ; AGAIN TAKE A SELL @ 838.80 & ON RISES FOR TGT 778.60

SL - FOR BUY SIDE & SELL SIDE IS "15" POINTS FROM THE GIVEN ENTRY LEVELS
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