November 21, 2024
European milling wheat shows strong potential for upward momentum, with prices trading above key moving averages and testing previous resistance levels. This analysis focuses on the March 2025 contract, highlighting critical levels like the 50-week and 200-week moving averages, anchored VWAP at 250, and Fibonacci resistance at 248. A pullback may occur before targeting higher levels around 260, 285, and 316, signaling a potential trend change. Watch for key price action and manage risk as the market tests these important levels. Review our October 28, 2024 Milling Wheat Futures Update: https://www.youtube.com/watch?v=a2tOairFCd0&t=7s
