Given the mounting anger and protests by farmers across Europe, there appears to be a significant challenge stemming from contradictory and potentially detrimental agricultural policies. The grievances include increased costs for agricultural diesel, additional fees for water consumption, complex regulations, and objections to bans on pesticides and herbicides...
Wheat futures have broken out of a falling wedge pattern on positive divergence. The price broke out of the wedge to the upside, then it back-tested the wedge from above, and proceeded to move up aggressively today. This is an objective buy signal. The most common investment vehicle for this trade is WEAT, an ETN backed by wheat futures.
Based on fundamental data (end of the harvest season). We have to see higher prices on Weat soon. Also if we look at it based on technical analysis, the price has a really important support. I'm entering a LONG position on Weat.
ZW is shown as the December 2023 contracts on the 2H chart have reversed in the past two days and price has increased over 2% in that interval. The indicators show a flip in the volatility and a blue bar volume spike in the reversal. Price is presently about 15% below the double tops and pivot highs of June and July. Price is presently crossing over the mean...
On the 4H Chart, SOYB has moved above both tthe near and intermediate term POC lines of the respective volume profiles. Upward price volatility above the running mean on the relative volatility indicator. In confluence pric emoved above the mean basis band of the double Bollinger band. Fundamentally, supply-demand imbalances including the collapse of the...
WEAT the Wheat EFT has been volatile of late due to the Bakc Sea shipping deal falling apart when Russia refused to renew it. Brazil has been trying to increase whet exports to pick up from the fall off of Ukrainian shipments to Africa and others. On the 4H chart, WEAT has fallen 15% from the double tops of July demonstrating the high volatility in what is...
CORN on the daily chart since late June has fallen to the present level with a flat or slowly falling support line. I see this as a falling wedge or a flat bottom triangle slowly setting up a breakout whose upside could be 30% or more. Price had a nice green engulfing bar to finish a down week in the general markets. CORN does not follow the general market....
CORN, the ETF tracking spot corn and corn futures has ended its down trend on the 15 minute chart. The pivot is not a surprise given the issues related to wheat in the Black Sea shipping with the Ukraine war escalating onto the sea and the grain export deal falling apart. The Price Momentum Oscillator which might be considered a leading indicator is showing...
WEAT is a popular ETF tracking wheat as a commodity. Because of geopolitical issues the rising price is an escalator for basic food prices from Africa to USA and globally. Sugar is a commodity that always seems to rise. Here on this daily chart, I have plotted the ratio of wheat to sugar spot prices which typically is a falling ratio. However, the downtrend...
Wheat first went up after a long period of preparation to hit and complete a Bullish .886 Harmonic BAMM before then coming back down, and now it looks like it wants to bounce back up from the same area due to there being Monthly Hidden Bullish Divergence at the Previous area of Support, though this time I will be targeting a relatively lower high such as the .786 retrace.
WEAT is essentially tracking wheat future contracts of various lengths. Importantly, the war in Ukraine took a disastrous turn when the Russians sabotaged a major dam subjecting thousands of acres of farmland to potential flooding and compromising the cooling pools for the nuclear electric generating plant that services a multitude of people. Urkaine is...
Nice setup in #Wheat here, might prove to be a long lasting bottom if this setup works right away... Best of luck! Cheers, Ivan Labrie.
The fund seeks to achieve its investment objective by investing in Benchmark Component Futures Contracts. Under normal market conditions, the manager expects that 100% of the fund's assets will be invested in benchmark component futures contracts and in cash and cash equivalents.
Dear investors, According To my analysis of Darden Restaurats, Inc Shares (DRI), there's a high probability of an increase next year toward the levels of 160.00$ that we have seen before in 2021.
I'm quite sure the first micro leg is finished and the next leg should get the media's attention. Over 860 and longs will likely pile in, as that has been strong resistance for months. Watch for grain reports for the "reason for the move" . www.nass.usda.gov Good luck!
Higher-low in price and lower-low in RSI. Big move incoming?
2 months of volume dry up during this multi-month wedge basing pattern. Seasonal strength in play. You don't need to know what's going to happen next to make money ~Mark Douglas Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
September 1 and that fall reversal may be in the air. Looking for a reversal from the falling wedge, but believe me it could easily end up as a false breakout. I'm sure many eyes are on it at this point. If we do rally from here, is it a minor rally? If so, we may set up another, larger, head and shoulders pattern. OIL is at support, Bonds are sucking and...