Technical: Wheat Delhi- Pull Back Is Above 1975



Technical: Wheat Delhi- Pull Back Is Above 1975

25 Mar 2017 1:38 pm

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Dated 25/03/2017

WHEAT SPOT DELHI- Last Close-1910 – Pull back is above 1975

Monthly Chart

The rise from 1464 to 2391 during the period April 2015 to November 2016 was retraced to 1813 which is 61.8% retracement.

Resistance will be at 1975-2088-2092.

Support is at 1825 and 1770.

Conclusion

Expect support and consolidation at lower level or in the range of 1824-1770.

Near term reversal can resume above 1975 closing.

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