Wheat created some sort of triangle and I think it will break downside because: a) we are under huge ressistence b) point of control is at 431 c) seasonality - price of wheat historically goes down from January to June.
Seeing a definitive break DOWN in the price of wheat futures. We need to see an immediate continuation in the upcoming week to get properly short. Also watching other AG futures like corn and soybeans for perspective.
Wheat is contracting into a symmetrical triangle and is poised for a breakout. Volatility as measured by a 14 day ATR is the lowest it has been since last year February, this is generally a good sign of a market poised for a large move especially when combined with a definitive consolidation pattern like a symmetrical...
Hi guys and Merry Christmas ! I post my recent Idea for short positions on ZW1! with a target to 483$. As we see the movement of the ZW1! we see fake breakouts in the recent timeline. After the recent trade wars tall between China - U.S we saw a bullish momentum but it wont last anymore because didnt reached a breakout to drive wheat prices higher. So my target on...
Hi guys ! My view is a long position for ZW1! according to G20 meeting Trump - Xi Chiping will find a short timely solution about the recent trade war , so agriculture futures will temporarely rebound i think . According to my technical indicators that i use ADX and Vortex index , they signal a buy just for a quick trade . ADX tends to achieve 40 and the + vi is...
Not really. Instead it's building pressure!
All the messing around in the sideways area (dark red) is usually managed to "load the boat".
If price breaks out to the upside, there's even a chance that we could forget to find a entry like I have projected with the arrows.
What also pops into my eyes is the slightly exponential curve that's begin to build with the...
Wheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting:
Weekly MA 20 just above 525 with negative direction
Daily MA 50 just above 525 with negative direction
We are in decline on the...
We have a weak movement up but we have daily MA20 below us. I believe that we need to retest it before seeing bull movement next week!
Open trade 523 $
Target 510 $
Good 4:1 ration !
WHEAT is in a bear trend below the 540.0 ceiling. An opportunity to enter short positions is developing for next week. First target is 440.0. This can be seen as the middle of a H&S patter with 440.o neckline. Have fun.