Wheat is once again showing its bullish side and is taking the first upward step out of the sideways movement of recent weeks. In the further course, the price should now continue the blue wave (c) and complete the superordinate wave A in turquoise. Following this, we expect a sell-off. Within the framework of our alternative scenario, however, it remains 37%...
Wheat 2 years after topping out at the PCZ of a Bearish Shark that initiated a downtrend in 2022, has now come back to the top side of the range wheat traded in between the years of 2016 and 2020 before ultimately confirming the bottom at the PCZ of a Bullish Deep Gartley in 2019 and breaking free to the upside of the trading range in late 2020. Now that wheat...
Wheat Technicals (May) Wheat futures shot higher overnight but got stonewalled by what was previously trendline support (now resistance). A failure to close out above 550-555 keeps the Bear camp in control with a potential retest of the lows still in play. Further escalation in the Middle East could turn the tide back to Bullish. Bias: Neutral/Bearish...
Wheat Technicals (May) May wheat futures broke lower yesterday, after struggling to maintian price action above trendline support in the previous two sessions. This has the Bear camp back in the driver’s seat as we officially enter the back half of the week. A close back above 550-555 would neutralize the recent bearish action. Bias:...
Wheat Technicals (May) May wheat futures traded in a wide range yesterday, on both sides of unchanged. This morning, prices are attempting to firm as the market revisits our pivot pocket from 550-555. The Bulls will want to see consecutive closes back above this pocket to spur a move back towards the recent highs. A failure to do so could put the Bears in...
Wheat Technicals (May) May wheat futures are under some minor pressure to start the week and are flirting with our pivot pocket from 550-555. If the Bulls fail to defend this pocket on a closing basis, we could see additional pressure come into the market with the next downside target coming in from 537-540. Bias: Neutral/Bullish Resistance: 573 1/2-575, 595...
Grain markets have flatlined to start the week as the lack of new news has kept buyers and sellers at bay. These are the technicals we are watching that could change that. Check out Blue Line Futures for technicals on Soybeans, Wheat, and Corn: bluelinefutures.com Corn Technicals (May) May corn futures were able to gain some ground yesterday, but it...
wheat is ready to go... excellent RR here... not only 3.5 to first target, but ocasion to build position towards much lower... moving stops to Be or trail *not financial advise
I will monitor price action on this floor and have set alerts for entry. Wheat futures need a correction to the upside. Let me know your thoughts. The Professor
Wheat (ZW1!) has been trading within a long-term Channel Down pattenr since July 2022. The price is currently on a bearish sequence below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line). It appears that technically this is a Bearish Leg following the December 06 2023 Lower High rejection, similar to the one that started on the October 10 2022...
Weekly chart, wheat cash contract is trading in a falling wedge! Will we see the 435 - 400 price level or rebound upwards from 520 - 525? It is tough to confirm.. However, this falling wedge pattern has a higher probability that the price will cross the resistance (line R) upwards towards 745 and 765 in the long term.
Bought since current level to reach about 750 level. Please keep R&MM if trading. Good luck.
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 (CBOT) is rebounding from the support level, and it seam a bullish pattern is being formed - Cup and Handle! After complete formation of chart pattern, the target will be 760 US cent/bushel (23.4% increase from current level) Indicator RSI is positive
Wheat (ZW1!) has been trading within a Channel Down pattern since July 2022 and since early December has failed repeatedly to detach itself above the 1D MA200 (orange trend-line). Since it is closer to the top (Lower Highs trend-line) of the pattern and it resembles the February 14 High, we expect a strong selling sequence if the price breaks below the 1D MA50...
WHEAT: BOUNTIFUL HARVEST SOON... if you seed at the current price range. KEY NOTES: WEEKLY DESCENDING TRENDLINE BREAKOUT. Monthly shifting price lines. HUGE HINT! Weekly histogram higher lows. MONTHLY HISTOGRAM SHIFT -- CLOSING UP TO BREAK SOON. SEEDED LONG (long term) 628.0 TAYOR. Safeguard capital always. ----------------- RELATED NEWS: WSJ...
Wheat is forming a bottom , especially in daily a double bottom has already been formed , also a wedge formation is looking really good , waiting for bullish 2024 .
👋 Good day, traders! 📈 After a two-month decline on the D1 chart, WHEATF has found support at the 540 level. Given its month-long accumulation phase and the completion of its downtrend, a breakout above the 587.75 resistance level could signal a rally towards target levels of 615.00, 660.00, 695.00, and 732.00. Consider buying entries around the 595.00-600.00...