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TheTrex
Dec 1, 2023 2:14 PM

WHEAT - Bottom is near! Long

Wheat Cash ContractPepperstone

Description

After a failed rally, it fell down the break the last low and is now grinding out a bottom. This looks like a good opportunity to long by buying small positions every week for next few months.
There has also been a completion of a three-wave correction, which helps to further strengthen the case that this could be in the final bear stage.

Comment

WHEAT kinda grinding the low bottom here, but looks decent to breakup if you follow it more closely for a wyckoff mark-up candle.

Comment

First sign in long time that WHEAT is about to rally. Long sideways accumulation but now pointing at 761 ~ 821!
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