Wheat

Wheat market enjoyed nice upside price action this past week.
Interpretation of the structure is an intermediate (2) of primary [A].
It is unclear if we are still tracing minor B of (2), or if wave (2) has actually completed. My guess is that we are in the finishing stages of minor B , with C down to follow.
The alternative is that (2) completed at the 487.75 L and we have put in some smaller degree 1's and 2's.
Notice that we are back at the channel. This would be a good spot to complete B.
Any trade through the 574.75 H would signal that (3) has commenced.
The dotted vertical lines in the RSI pane represent Gann dates. The last 2 have been spot on for very tradable lows. The next date takes place on December 2nd.
Bottom line - I'm expecting price to start retracing very soon. The retracement levels are on the chart.