Wheat - Explosive breakout pending Keeping a very watchful eye on wheat!!! I believe that there is an explosive move on the way which may be a long drawn out corrective cycle depicted in the chart, after spiraling down for the past five years.
We have recently hit what seemed to be a good double bottom here which failed to breakout leading me to believe there could be a third so maybe third time is the charm possibly when oil turns around and we see another bounce in commodities wheat could be leading the pack. Please see chart below.
