Techically speaking, my perspective to go LONG: 1. Touched a strong rising trendline (white oblique line) 2. Price on 0.618 Fibonacci level 3. There are a lot of supports below current price than resistances above (horizontal red lines on charts) 4. Price is close to important volume cluster 5. Buying divergence in RSI indicator 6. Daily volume falling during the...
WHEAT has fallen back to long-term support line and MACD is showing signs that selling pressure is slowing down. Price rise could follow after MACD crosses up bullish.
Will wheat be indifferent to the federal interest hike ? maybe , price is in Neutral triangle and is ready to fly again
The wheat dropped in the qualified demand zone and I expect at least the move draw on the chart. Do risk free and then trailing stop!
Wheat Heading back to $700-800 range, supply has now surpassed the demand. Ukraine is now shipping wheat from Moldova and shipping out via train etc Russia is supplying Ukraine wheat from Mauripol Russia is supplying wheat to Bandladesh and a number of African countries Australia has had 20% bumper record crop being on the top 3 wheat producers Price will...
Yes initially I wanted to wait for the deeper dip but I am liking this level here so will put in a very small position for the correction. Note its a small position due to the riskiness of the trade. Put a buy stop slightly above. Literally catching daggers! If it works its a 2.92R ....well its actually 20% of normal R!
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Wheat retracement is about to reach 1000 USD. It is a perfect place to bounce off and start climbing back up. Next contract in line is more expensive, so with respect to seasonality and geopolitical risk, a growth should be expected.
If the trend line holds, we could see a big pullback to the upside. ****Disclaimer: This is not an financial advice, it is only for educational purposes.****
Taking into consideration the situation in Ukraine who is a big contributor in the global wheat market I suggest a good old short!
WHEAT make market shift, now waiting for correction and potential BUY Remember DYOR
Wheat is still in a downtrend channel but on RSI is a big divergence. We need to wait for the broke out from the channel.
Taking into consideration the situation in Ukraine who is a big contributor in the global wheat marketm I suggest a good trend follow set up on the Daily chart. Approching that crucial MA50 and Fib retracement 50 % Buying, 0.5% Capital STOP FIRST touch on the MA 50 TP 1 40 % of the position 1092.26 TP 2 40 % Position. 1239 TP3 TBD later
Wheat has been the most volatile commodity since the war started and we have fallen back to $1000 as peace talks improved. Similar to Oil though peace will not fix the supply/demand issues with Ukraine and Russia accounting for 30% of wheat exports. The consolidation period is likely over and if we can get some positive price action more buyers are likely to...
Prices are approaching a pivot. We see the potential for a bounce from our buy entry at 1032.19 which is an area of Fibonacci confluences towards our Take Profit at 1105.47 in line with 61.8% Fibonacci retracement. RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information, or links to third-party sites...