SINGAPORE: CBOT March wheat may retest a support at $7.40-3/4 per bushel, a break below which could be followed by a drop to $7.30-3/4.
A bounce from the Dec. 6 low of $7.23-1/2 has completed.
It consists of three waves.
The wave b ended at $7.30-3/4, which remains as a target.
CBOT wheat may test support at $7.40-3/4
A rise above $7.56-3/4 could signal an extension of the uptrend from $7.23-1/2, towards $7.70-$7.83 range.
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