ZW1 you can buy now After penetrating the first resistance, he will go to the moon ZW1, vous pouvez acheter maintenant Après avoir pénétré la première résistance, il ira sur la lune
Wheat futures rallied last week as it was expected. Congrats on your profits! Wheat is one of my favorite instruments. It follows setups very well. Many traders focus on more volatile instruments. But that is wrong. As traders, we have to be focused on a less speculative instrument that gives a better risk/reward ratio. I believe the price will retest recent highs...
chart going up its for buyers
Based on COT reports commercials are long wheat. They are correct 98%. It may take time to form a buy signal. But with that in mind, we look for buy signals - whatever happens first - break out of daily resistance - lower high + oversold oscillator - divergence (I use RSI and OBV)
Price has reached a target zone, so there may be a short term corrective move up to some sweet spots where the daily short trend may resume. Targets are indicated in magenta, short trend is valid until price closes above the green zone on the daily.
there is a probability that the wheat will descend to the support