Wheat Markets: CBOT SRW Recovers 50-Day Moving Average

Grain Report Chart of the Day

 

CBOT SRW Wheat

 

Daily Nearby

 

Notice how the price has recovered from this morning's shakeout?

 

And is now attempting to recover the green 50-day moving average.

 

Watch the close.

 

Notice all the reactions to the 50 DMA over the past year.

 

Regardless of how you interpret the fundamentals, the 50 DMA matters.

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