Kumowizard
Long

Wheat, Corn, Soybeans - Still Bullish, watch for next buy wave

CBOT:ZC1!   CORN FUTURES - ECBT
98 0 1
Looking at Ichimoku setup, agri             products still have good chance to develop bullish trend further, especially if within next few days they continue the buy wave from current key levels.

Wheat: Price is above Kumo and Kijun Sen, Future Kumo points up. Price retested Kijun Sen and 530-534 key support two days ago, from there popped up again yesterday. If Chikou Span crosses above Kumo, that will be a further bullish signal. Stay Long with stop below 515.

Corn: Same as Wheat             , it retested Kijun Sen, trendline and 362 Key Support, Price action seems to be turning bullish again. On next buying wave Chikou Span can cross above Kumo too, giving further confirmation for possible bullish trend extension. Stay Long with stop below 353.

Soybeans: In terms of Ichimoku this product isnot yet really bullish , rather consolidating, as Price still trades within the Cloud, and both Tenkan, Kijun and Senkou lines are flat (not yet pointing up). However future Senkou lines made a bullish cross sofuture Kumo suggests a trend reversal may be around soon. Price has chance to move higher again from recent trendline and Kijun retest.
Recommendation here is to open small long (weighting in portfolio should be less) with stop below 990. Real bullish breakout and acceleration could happen with a break above 1060-65 key level, where we have the horizontal resistance and the bearish trendline.
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