ZWZ2016 Commodities Futures Chart

WHEAT FUTURES - ECBT

 

News

Remko Remko ZWZ2016, D, Long ,
ZWZ2016: CBoT Wheat
46 1 1
ZWZ2016, D Long
CBoT Wheat

Wheat: Price made a very strong move down during Monday's session and broke through our first supportive level. It then tested the pivotal support which held after which price created a 'morning star' pattern which is a reliable reversal pattern. We keep our bias unchanged bullish. The low of last week at 398.75 has now become pivotal support.

Remko Remko ZWZ2016, D, Long ,
ZWZ2016: CBoT wheat continuous long play
65 1 1
ZWZ2016, D Long
CBoT wheat continuous long play

Wheat: Price made an almost 2% corrective move down during the past week after its strong 5% swing up of the week before that. We have put a first supportive level at 413 in the chart which was tested twice during the past week and which we would not like to see broken on basis of EOD. We should, however, not be stunned if same support will be penetrated during ...

mikebiz mikebiz ZWZ2016, 30, Long ,
ZWZ2016: Wheat may have hit its pullback
23 0 0
ZWZ2016, 30 Long
Wheat may have hit its pullback

Looking at 30M chart, it's possible that wheat has made its pullback. The TSI could be finding support at 0 and RSI on 40. Based on next open and if these indicators move up off this support may try a dec wheat call. Looking at the daily chart, the RSI and TSI look bullish and the ADX with +DMI looks like it could be setting up a change in dominance from down ...

Remko Remko ZWZ2016, D, Long ,
ZWZ2016: CBoT wheat has a confirmed bottom and a long play is valid
41 0 3
ZWZ2016, D Long
CBoT wheat has a confirmed bottom and a long play is valid

Wheat: This price chart is showing us TA straight from the text books with an, almost violent, test back down of the support, a repeated and strong knock on the door of resistance at 415 after, eventually, price broke up through its resistance during Friday's session. The long topping tail of Friday's candle is probably a sign that bulls needed a bit of breath ...

mikebiz mikebiz ZWZ2016, 480,
ZWZ2016: Wheat may be ready to begin a new trend up
20 1 5
ZWZ2016, 480
Wheat may be ready to begin a new trend up

Wheat, on an 8H chart, has broken through key short term resistance last week. Beginning 9/12, ADX had signaled a period of price consolidation which has lasted until 10/13 when price broke through resistance. This price action and ADX consolidation is reflected on the daily chart too. It is possible that price may have more upside potential before a pullback ...

IgnatBorisenko IgnatBorisenko PRO ZWZ2016, 120,
ZWZ2016: WHEAT - another pullback from SMA
186 1 6
ZWZ2016, 120
WHEAT - another pullback from SMA

There's a pullback from the SMA, so wave of 5 is likely going to be continued

Remko Remko ZWZ2016, D, Long ,
ZWZ2016: CBoT wheat has put a long term bottom on the chart and is a long
36 0 0
ZWZ2016, D Long
CBoT wheat has put a long term bottom on the chart and is a long

Wheat: We have called for a bottom on this chart during the past week when, during Wednesday's session, price drew a 'double key reversal' on the chart which was an 'engulfing bullish' candle as well and which both are quite powerful reversal patterns. Much to our dissatisfaction we saw price make a strong pull back during the Thursday session but this could be ...

IgnatBorisenko IgnatBorisenko PRO ZWZ2016, 120, Short ,
ZWZ2016: WHEAT - new low is coming
115 0 9
ZWZ2016, 120 Short
WHEAT - new low is coming

Wave of 5 is likely going to be continued, so there's an opportunity to have a hew low in the short term

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT wheat still waiting for the bottom
16 2 1
ZWZ2016, D
CBoT wheat still waiting for the bottom

Wheat: Nothing much happened during the past week and price has mostly been moving sideways during the week with exception for Friday when price took out its most recent lows at 395/393 after which it recovered and made a very strong 3% rally from its LOD. We still believe that price needs to make one more impulsive move to the downside and we keep our bear bias ...

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT wheat still waiting for the bottom
29 0 1
ZWZ2016, D
CBoT wheat still waiting for the bottom

Wheat: Price has not really been following our preferred path very precisely lately and has been knocking on the doors of the various resistances repeatedly, especially during the past week. Still, the price action as such during the past 3 weeks does not have anything of an impulse and price shyly tried but failed to trade higher. We still believe that price ...

IgnatBorisenko IgnatBorisenko PRO ZWZ2016, 120, Short ,
ZWZ2016: WHEAT - wave [v] of 5 started
131 0 10
ZWZ2016, 120 Short
WHEAT - wave [v] of 5 started

We've got a possible wave {iv}, which was ended under the 144 SMA. So, there's an opportunity to have wave {v} of 5 in the short term.

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT wheat close to a bottom but not there yet
20 0 0
ZWZ2016, D
CBoT wheat close to a bottom but not there yet

Wheat: Nothing much to add to our last week's outlook on this chart and price has been following our preferred route quite precisely. Price is now approaching the descending resistance trend line at 407 Monday and at 406 Tuesday with an additional and crucial resistance at 411. As long as price does not break the 411 mark to the upside we maintain our bear bias ...

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT Wheat still waiting for the bottom to form
26 0 4
ZWZ2016, D
CBoT Wheat still waiting for the bottom to form

Wheat: We keep our short term bias unchanged and we are still anticipating a bit further decline in price. Thus far price has been following our preferred path reasonably well although the minor correction up started a bit earlier than what we would have thought. From here we expect a little more upside move on Tuesday after which we expect price to continue it ...

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT wheat waiting for the bottom
58 0 3
ZWZ2016, D
CBoT wheat waiting for the bottom

Wheat: Price took an impressive beating of 8.5% for the week with especially Friday's session being very weak with a 4% decline in value. The move of Friday was very decisive and volatile which is a very strong indication that more decline is to be expected during the coming week. There is no tradable bottom in this market just as yet and we will need to allow ...

Remko Remko ZWZ2016, D,
ZWZ2016: CBoT wheat neutral
28 0 2
ZWZ2016, D
CBoT wheat neutral

Wheat: We have rolled over to the DEC16 contract. Price action is not really giving away a lot and has been puzzling us more than one time during the past months. The descending wedge that we see in this chart usually is a reversal pattern from where price aggressively trades up but the break out of the upper line of same wedge was't really impulsive. We are going ...

Remko Remko ZWZ2016, D,
ZWZ2016: Wheat CBoT
22 0 1
ZWZ2016, D
Wheat CBoT

Wheat: Price declined some 18% during the past 4 weeks which we did not anticipate as we had a wrong bias initially. We are still unable to figure out where to go from here with our bias and prefer to have a further wait-and-see attitude rather than trying to catch a falling knife. Price will, at some given time, make a corrective move up before it continues it ...

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