WHEAT — Watching This Area Closely
Wheat is pushing into a bearish WCL , and what’s interesting is that a bullish ABC (red) already hit its C right inside this zone .
Usually, that’s where things slow down.
At least a pause. A wick. Something.
Instead, price just kept going.
No real rejection.
No obvious momentum loss.
No bearish structure shift.
That tells me sellers showed up, but they didn’t get control. Feels more like absorption than resistance right now.
As long as price holds structure up here, I’m not fighting it. The move still looks alive, and the next area I’m watching is around ~$5.50 .
If this zone suddenly rejects hard and structure flips bearish, then fine — idea’s invalid. Simple.
For now, just watching how price behaves here.
Not financial advice.