Idea on US Wheat: Head & Shoulders pattern WHEAT FUTURES (DEC 2021) CBOT:ZWZ2021 ViclreTrade - Strong support at $6.80/BU with strong rejection candlesticks ( hammer ) - Bullish engulfing on this support - Rebound on the 150 Exponential Moving Average - Broke up the 100 Exponential Moving Average - Rebound on the 38.2% Fibonacci retracement level - Hidden bullish divergence on Relative Strenght Index (RSI) - Head & Shoulders pattern Fundamental news: - Cut of worldwide wheat production - Oversold position before monthly USDA report Objectives: Wheat could goes up to the $7.22/BU level (61.8% Fibonacci retracement level) and then goes down and confirm the Head & Shoulders pattern. The theoretical objective is $5.80/BU (support). Before this level, there is a strong support at $6.20/BU. WHAT DO YOU THINK ABOUT THIS IDEA? Feel free to share, comment and give your opinion if it is constructive ;) DISCLAIMER: This is not investment advice