Wheat - Time to go long

CBOT:ZW1!   Wheat Futures
314 7 4
Update : I don't know what was wrong, but the chart was not right. Two days latter, the chart looks like this
. It doesn't look that bullish anymore, but it isn't bearish either.

Last Monday, wheat             broke the 550 support, and that's when I became extremely bullish . Today, I believe a new uptrend has started, and the next days are going to confirm or infirm this. A close above 550 would confirm a false downside breakout, and combined with bullish divergences and with a weekly chart that looks pretty good, a sort of a Double bottom with a divergence (weekly here : https://www.tradingview.com/x/1hSLHGs8), Wheat             has all the chances to rally back to 700. Till 700, there is the resistance level at 620, which is pretty strong. The volume is not yet published here on tradingview, but a strong volume for today would add to the bullishness of this chart.
Check out my previous charts on wheat             . I am not going to take this trade, my portofolio size does not allow me to trade many of the commodities offered. If anyone knows of stock, that is closely related to wheat             , please leave a comment.
Wheat Fund by Teucrium - WEAT is the symbol... also RJA is an agricultural etf that holds the ags.
Thank you Tim, but unfortunately neither of them are offered by my broker. Guess I have to build up the account in order to play with grains...
LuigiZeroZero vlad.adrian
WEAT is traded on NYSE. You should be able to trade it with any brokerage.
vlad.adrian PRO LuigiZeroZero
Im not american, I trade cfds on stocks, not stocks per se
....brave thesis. Yesterday was the last trading day of the July contracts.
didnt know about that... If it does not go over the resistance level at 550, I was probably wrong and the reason for this day had to do with the contract expiration.
hehe vlad.adrian
...contract expiration & #USDA report.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out