leyal
Long

Next target 500

CBOT:ZW1!   Wheat Futures
12 1 2
0.618 FIB next ($500)
From April this year at these prices below we have had....
9 points of contact at 500, 12 points of contact at 504 and 23 points of contact at 513
Meaning the more points of contact the more respect the market gives these levels.
Like a moth to a flame you are right the 500 area is the attraction point! Though I have the target possibly a bit higher at 504~513 on a daily close basis. But I don’t know how to trade it because I have a 15 period EMA that is acting like resistance to the upside. I’d like to see that breached to take a long position.

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