Wheat Price hit 2008 financial crises high.
the consequences of the Russian-Ukraine, in addition to the fact that the world economy has been already suffering for the Covid19 economic consequences "like inflation and increase in shipping price, wheat prices are now hitting 2008 financial crises highs.
Hello traders:
WHEAT is also looking clean for the downside reversals.
We can see that price has formed into a larger, higher time frame ascending structure, correcting the price up.
We also see a clear rejection and a possible bearish reversal impulse, after hitting a double tops.
HTF:
Latest development has shown us a bearish reversal impulse after...
OANDA:WHEATUSD recently hit a high around the $7.16USD area and has been in a small downtrend since. It looks like it may be ready to head back upwards and test resistance again after a nice bounce off of support.
Entering around the $7 mark would give us about a 2.37% retrace up to resistance and would be a perfect bounce off of the 0.5 fib.
RSI on the 30...
Wheat looks bullish going up for 7.246.
The indicator suggests a pullback to wait for...
.
Khiwe
On this profile page, the shared analysis, ideas, and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or completeness in the form of any content; -it is not to...
> Wheat (Triticum aestivum L.) is the most important crop in the world in terms of area harvested, and is one of the world’s staple foods. It provides about 20 % of the total dietary calories and proteins worldwide.
> However, wheat has a defect, each degree-Celsius increase in global mean temperature, on average, reduces the global yields of wheat by 6.0%. Other...
WHEAT was weakest of grains in terms of price gains and CoT. Should be in seasonal weakness.
Price SFP'd D1 range highs and took liquidity from Fri. Several hours later a H1 bearish OB formed.
Price got trapped around D1 resistance and next candle after the OB closed as SS on both SOY and CORN, but giving neutral/bullish candle on WHAT giving better entry.
Entry:...
EUR/JPY:
• If price pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag.
• If price pushes down, it then pushes back up leaving us with two fairly horizontal...
Hi, I think this is a break of the head and shoulders pattern, Corn broke out this past week, soybeans have been running really strong for a while. I think it might be wheats time to move.
On a larger scale, it seems ABC correction (2) is over. I counted ABC correction wave in smaller time frames. I think Wheat started its up-trend. TP points are shown on the graph. If requested, smaller time frame targets can be analyzed.
I think in 2021, wheat price will accelerate because of supply shortages due to pandemic. Just an idea.
Happy hunting !
Wheat in October climbed more than 13%.
For the past few days we see the price making a pullback and stopping at the 50MA where buyers jump in again.
There are two scenarios that I see right now:
1) we have a descending triangle in-the-forming with potential break lower if bears win or
2) we are in the “digestion” period of the recently formed higher...
Those that have been following me for a while know that I've had my eye on commodities and as we keep printing currencies, inflation shall follow. I expect some good moves from grains and sugar in months to come and I keep building my positions. We have a descending triangle mixed with a reversed head and shoulder pattern. This combination could lead to explosive...
Wheat has become one of my favourite commodities to trade after the 10:1 win to lose ratio of my positions for SEP '20.
Now I'm puzzled as to what to do next. The trend is clearly bullish but, we are approaching the strong resistance of $5.87-5.92 of MAR '20.
If we break this level then we will see higher prices. Maybe go back to the prices of 2014-2015 where...
OANDA