ViperFutures

Kansas Cory Wheat Short Opportunity Off Of Highs

Short
CBOT:KE1!   KC HRW WHEAT FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Looking at a short opportunity with KC Wheat being at highs of 500’s I also look for other conditions.
1- divergence on almost all Macro time frames including the daily , and indecision here on monthly and weekly timeframes.
2-seasonal historic patterns showing a time where commercials can flip position to net buyers meaning they are hedging against the speculators that can drive prices back down
3-momentum looks weak up there

Let’s see what happens all I am short one calendar spread from here. Good luck !