Is the Hard Red Spring Wheat Correction Over?

Grain Market Technical Analysis

The past week has been volatile in most markets, including Hard Red Spring Wheat.

How can the fundamentals change so much in such a short time period?

Why can a news release or a tweet cause such a market reaction?

Does anyone know what is going on?

For these reasons, I do my best to ignore the news and look for clues in the price charts.

Readers will remember how following the pullback from the May 17 high, I identified potential levels of support.

Hard Red Spring Wheat

Marketing and trading are emotional activities.

By identifying levels of support, I attempt to reduce the emotional responses that lead to selling at the price reversal.

I find it amazing how often participants capitulate at or near the market reversal.

Trust me when I comment that it is a very disheartening experience.

Have you ever bought at the high?

How about selling at the low?

I will write about capitulation events in the future.

On to the charts.

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