NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Jul 18, 2014 03:40 PM CDT

As hard as it is to believe, at different times this past week it seemed like the September Chicago wheat contract wanted to establish an uptrend. I know, in my latest On the Market column I dismissed wheat's chances of turn bullish rather easily, with the lone bullish factor in the market's bearish haystack being the fact it is technically oversold. But perhaps in its weakness lies its inherent strength.

Or something like that. It is far too late on a Friday afternoon to be philosophical.

It doesn't take much to see that September Chicago's weekly stochastics (second chart) are ...

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