Wheat: We still do not see a lot of possibilities in this chart and, after having made wrong conclusions twice in a row, we want to wait and see what develops from here. We have a drawn a possible scenario on the chart which we will keep look at but looking is all that there is to be done as far as we are concerned.
Very often in the correction, wave 'Y' has the form of a triangle. Watch out next #USDA report. www.businessinsider.com
Wheat has excellent potential in coming weeks. Pay attention to COT report. Open the link finviz.com and proceed to the weekly chart of wheat. Notice that hedgers are spiking. The entry signal would be the spike in COT reports.
Possible long in this area, for a few, but price is showing extreme bearishness, so blue median has to hold.
Wheat: Our last week's sell stop was hit and within 3 sessions our stoploss was hit as well. We have been uncertain about this market for quite some time and stepped in based on an analysis that proved to be wrong. Time for us to leave this market in peace for a while and to see what happens next. No need to dance on all parties.
Wheat: After price left the woods it advanced rather impulsively which initially made us decide that we were too late to take the ride up and that we should rather let go. In meantime price has made a reversal in order to test the break-out zone where it more or less has arrived at the close of last Friday. It seems that the market is offering us a second chance...
Wheat: After about a month of moving back and forth in a zone that we described as 'the jungle from where we do not see the exit' the price has come out of the woods on the upside. This encourages us to have a look at possible long play. However, before we will feel comfortable to entertain a long trade we first need to be sure that this is not a bull trap. If we...
Wheat has formed a gigantic weekly base, and is ripe to rally once price moves above 469'6. It's a bit premature to buy, but we could get away with huge R multiples if this trade setup works. Open long positions on a break of this level, with stops under the previous week's low. If interested in my trading signals, or in personal tuition, contact me privately....
Wheat: Price is, as far as we are concerned, still 'in the woods' and we still want to stay away until we see a convincing development.
*EDIT in text quote on left of chart - *Synchronicity in between I have created an equally weighted portfolio of 5 sustenance based commodities including Soybean, Soybean Oil, Sugar, Wheat, and Maize (continuous fwd contracts). This is an update to the first chart I have published (rough rice) which isn't updating for some reason but if you see the RR1! graph on...
I still haven't come across any compelling justification to get long besides my technical read. Most fundamentals, crop yields, weather all appear to suggest we go further south but we are now in my buy zone
Price broke down, and is testing and holding near lower Median Line on Modified Schiff
Wheat: Nothing much changed in our views on this market. We are still in an area which we see as a jungle from where we see no exit (either up or down) and we want to see that price breaks out of the 450/485 'no-mans-land-zone' before we pick any side. The moves during the past week and, maybe oddly enough, especially during the last 3 sessions start making look...
Wheat: Price has made a move up during the past week but has not yet left the 'jungle'. No changes from our point of view and we want to see clearer picture first before choosing sides.
Fundamentally not much bullish... maybe a mini USD meltdown/correction might provide enough to send all commodities flying? Strong support around 420-430
Price did not develop as per our preferred path during last week and broke through the downside of our ascending price channel. This makes us feel less comfortable although the critical supportive level of 450 remains intact for now. However, with the price making a move down last week we will only start feeling more comfortable if price breaks the 480 level and...
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...