UnknownUnicorn1156963

Rally in Wheat will continue. Possible entries

Long
CBOT:ZW1!   Wheat Futures
You know I am a big fan of commodities and especially tight markets like wheat , live cattle , etc. These instruments are less manipulated and less speculative. Usually, they follow their setups very well. Getting above Friday’s high is potential swing entry. We have a triangular formation on the daily chart . Sometimes price makes false breakdown before the rally. So, it is another potential entry, if that happens. Wheat has a strong seasonal tendency to rally till September.
Comment: Take some profits here. It can pullback 20 dollars or so.