Wheat Futures [CBT]
20 Aug 2020 ● 07:36 AM
Wheat prices have gone through a long rounding bottom long term after which the first initial impulse waves are showing up. WAve 2 retraced a large part of the gains. Wave I and II of 3 have now clearly formed with impulsive 5 wave counts. Wave III of 3 should follow
Requires me to use the EW calculator as wvae 3 after a flat wave 2 is likely going to be extended. 666 IS normal and an extention of 1.618 times wave 1 would go to 788. 2.618 times to 986. Actual we have to see. Any move in wave 3 will complete in 5 waves and as that develops we should get an insight on the extent of extention.