Technical : Wheat Delhi Spot : Expect consolidation At Lower Levels 30 Dec 2017 3:31 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 01/01/2018 Technical : Wheat Delhi Spot : Expect consolidation At Lower Levels WHEAT Spot Delhi- Last Close- 1789- Consolidation Likely At Lower Level Trend is down as prices are below the averages. The 55 VA is below 89 EMA which still indicates a bear market. Oscillation and volatility around the 55 VA and 89 VA is likely. Trend line support for the time being is witnessed. Further fall below 1770 can lead to a slide towards 1715-1700. Correction is for a fall to form Wave (c) appears be in progress. Trend line breakdown if witnessed will confirm slide for Wave (c). Wave (c) could be 1700 or below Upside momentum is above 1876 closing and till then rise to averages or above is to exit long position. Averages are placed at 1799 and 1807. Convergence of 55 VA over 89 VA has not yet being witnessed. Conclusion Consolidation at lower level on the fall to 1750 and 1710 could be happening.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Russia's Wheat Reserves Hit Record Highs Amid Stalled E... International Grains Council Boosts 2023/24 Global Corn... Russia Reduces Wheat, Corn Export Taxes; Bans Durum Whe... USDA attache lowers India 2023/24 rice production forec... India Allows 95,000 MT Rice Export to Nepal more Top 5 News Desi Moong (Jaipur) Inflection Point: Retesting Key Re... Rajkot Groundnut Oil Loose Correction Underway / Next ... US Cotton net export sales for April 12-18 at 177,100 R... US soybean net sales for April 12-18 at 210,900 MT, dow... Black Matpe Polished (AP) Consolidating Above Key Supp... Top 5 Market Commentary ZCE Cotton And Yarn Evening Closing - 26 Apr 2024 DCE Oil Complex Evening Closing - 26 Apr 2024 DCE Daily Rates Update ( Time: 20:19 ) - 26 APRL 2024 ICE/ZCE Daily Rates Update ( Time: 20:18 ) - 26 APRL 2... Market Wise Urad Arrivals: Supply Down By -15.07% Again...