Technical: Wheat Delhi- Trend Still Down

Dated 23/06/2017

Monthly Chart

The recent low of 1705 is likely to be the swing bottom unless quickly the level is violated.


Further weakness is below 1705.

Expect selling to continue below 1705 closing for slide to 1650-1600.

If immediate rise and close above 1763 is not crossed then lower levels will be tested.

Conclusion

Trend is down and further weakness is below 1705