A rather logical looking interpretation. There's a reasonable degree of support, whilst we're buying in the lowest percentiles of the last decade. Further, the probability of the downtrend being breached looks increasingly likely. Further, the return distribution of commodities is particularly convex or asymmetric with a long right tail. Thus, we can give the...
Is inflation starting to feed through to softs!?!
With oscillators diverging I will be expecting Wheat to reach 380 or lower again to look for long positions expecting finally a breakout out of the long-term wedge pattern. On the other hand if the low is already in, I will be waiting for a break out above the wedge and above the weekly Ichimoku cloud to go long. The upside is expected to be explosive. For now I...