Technical: Wheat Delhi - Correction/Consolidation Still Happening

Dated 22/08/2017

WHEAT Spot Delhi - Last Close-1761 - Correction/consolidation still happening

Monthly Chart

Stochastic is in oversold zone therefore near term rise could be witnessed with volatility.

Support is at 1752 and 1700.


A fall and close below 1700 can extend the slide towards 1650-1600.


Further rise is above 1780.

Consolidation could be happen till 1700 is not violated.

Conclusion

Consolidation could be happening till 1700 is not violated.