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Wheat (ZW)

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WHEAT trade ideas

Wheat higher: droughts in the US, and trade tensionsWheat has been bullish since the beginning of 2018 and I think there is reason to expect to see it continue. Some of the main drivers are: 1. Potential tariff introduction and major us trade partners like mexico moving to other wheat sources affect trade stability and commodities as a whole. 2. The developing drought in the US this summer Watching for a move higher from the $5.00 level off the major support developed at $4.75. Probably not the most explosive move (unless the drought gets really bad, then watch for a boom!) and will expect a steady grind up into the $5.50-$5.85 through to the end of the year. So what do you think? Is there a case for bullish wheat or will we stay sideways? Would love to hear your feedback, share with me your charts, ideas, and comments! Peace, love, and sweet bamboo, tbp Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
OANDA:WHEATUSDLong
by TheBadPanda
WHEAT - D/W/M - LONGWe already traded WHEAT weeks ago with some success, and I found this setup quite interesting. On daily we have another nice breakout, that could lead to another false breakout. But in this case we are narrowing down on the support and resistance so we should see some break in the following weeks. Taking into account macroeconomics, I'm betting more on the upside than downside for WHEAT. I added a mid-range TP that looks achievable this year. This is a long trade, so be prepared to keep this one forever. SL (if any) should be around 3.55. Trade with your own diligence. GL HF
OANDA:WHEATUSDLong
by Bastosai
Engulfing pattern 2well we see that traders break through the resistance not once but twice. But, we haven't seen them near the support area with the first pattern and with the 2nd. While I am not truly analyzing this to come to a trading plan with this specific stock/commodity. I do have additional questions with my limited knowledge. Was the stock oversold at one point? Did something happen with Wheat in the U.S.A? Is there a shortage/failed crops and this increased the price of wheat? Is there a new regulation on wheat? Do not many people purchase products with U.S.A wheat in it? Well I think sooner or later this stock with drop steeply. Will it drop to the 4.510 or 4.370? A chart for me to ponder as I go through Mr. Nison's book.
OANDA:WHEATUSDEducation
by Ophiuchus