Technically, wheat has seen 4 consecutive sessions of strength. This is in the face of a stronger dollar and recessionary fears, which in theory should sap sentiment and forward demand dynamics. Wheat is approaching key level of resistance at 810. This is a previous POC, that has proved difficult to breach. Though fundamentally wheat should stay bid, considering...
Notice how POC testing is readily rejected each time and the resumption of the overall trend prevails like clockwork. This is the value of Price control and knowing where volume and liquidity in the market exists.
Another hotly contested Point of Control that adhered perfectly the volume led price action of the market participants. At his stage, picking an entry...
This is still a highly resisted area. Despite the up moves, we need to see a clean break before bullishness is confirmed. We are seeing low volume - that's fine, the volume can come later. First and foremost, the price action needs to move about the PoC
You need only look at the previous <month price action to see that we are literally in a zone of contention....
