MATIF wheat chart analysis

The MATIF September wheat contract continues its unabated 15. The medium-term trend line nor 183er support could stop the decline. Currently, the course to the next mark at 178 euro moves. Should keep this line, it could see a recovery over 180 euros by profit-taking. However, a new sell signal already indicated himself. The 18-day average sends to cross at the 50-day average line from top to bottom. In the past, this constellation triggered almost always more technical sales.

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