CBOT wheat may bounce into $6.80-1/2 to $6.83-3/4 range

CBOT December wheat (WZ26) may bounce into a range of $6.80-1/2 to $6.83-3/4 per bushel, after stabilizing around support at $6.71. The stabilization suggests a completion of the five-wave cycle from $7.36. A projection analysis on the fall from $7.30 reveals this 238.2% level of $6.71.