WHEAT the rally continues The support at 508 is holding, i think now they try to test the pivot in area 532
WHEAT ZWU17 - Sep '17
CROC X1 - Supports / Resistances - Multiday (TF - 1H)
R3 = 559.2
R2 = 558.20
R1 = 555.20
PIVOT = 531.70
S1 = 508.20
S2 = 484.20
S3 = 481.60
CROC X3 - Last Signal (Long Term - TF 1D)
LONG from 470.40
from 27/06/2017
XW1! trade ideas
Start of a new long term bullish trend
Weekly:
- Massive bullish Kumo breakout with strong momentum, confirming the break of the 4 years bearish trend.
- irst weekly resistance and first bullish target is at 600
Daily:
- Bullish Ichimoku setup
- Bullish Heikin-Ash
- Any retest to 470-480 support zone would be a buying opportunity
Long wheat!!Hello all
Let's take a look at wheat.
Weekly : Price broke LT trendline. Tested it and failed at kumo cloud top twice. This is third attempt and i expect a breakout. Weekly macd is above zero and crossed up.Chikou is above price and price above TK.
Daily: Price broke the triangle. Daily macd is above o and crossed up. Chikou is above price. Price above TK.
I am long and looking for a test of monthly kijun.
Big question is can this be starting of bigger multi year rally in corn and wheat?
Thanks
Wheat Turn Around? Cypher?Wheat RSI has floored. Elliot wave 1-5 complete, and wheat is still trying to sell itself off of a bearish flag. There is an outside chance of this becoming a Shark. More likelihood a Bearish Cypher. If up trend forms, looking at 430'4 and then 444'2. After 452. This could also fall more into extension in which case target numbers may change.
Wheat Still in DowntrendJuly Wheat has made a bullish flag and tried to escape it today. Wheat still in downtrend and market full of wheat right now, so still looking for further downside. Upside target reversal may come at 449 downtrend line if flag doesn't decay. If broken and stable we could see a short term turn around. RSI has come to downtrend line so caution should be taken.