ZW is shown as the December 2023 contracts on the 2H chart have reversed in the past two days and price has increased over 2% in that interval. The indicators show a flip in the volatility and a blue bar volume spike in the reversal. Price is presently about 15% below the double tops and pivot highs of June and July. Price is presently crossing over the mean...
WEAT is a popular ETF tracking wheat as a commodity. Because of geopolitical issues the rising price is an escalator for basic food prices from Africa to USA and globally. Sugar is a commodity that always seems to rise. Here on this daily chart, I have plotted the ratio of wheat to sugar spot prices which typically is a falling ratio. However, the downtrend...
Hello,Traders! wheat was in a downtrend -the wheat is for sale if it does not break the downtrend
The recent downward movement has brought the wheat price into our blue trading zone and thus the minimum requirement of the current blue corrective wave (b) has been fulfilled. We expect it to go a little lower, but gradually the price should now form the end of the wave, allowing long entries. In the further sequence, we see the price rising above the resistance...
Sure, it is winter in the northern hemisphere so why even bother with the grains at all? ... ... Because cheap Ukrainian wheat had absolutely flooded European markets, so much so that very soon they will have to start dumping some of it into the ocean! (Right now, they are trying to air out these mountains of grain, so it wouldn't mold, but that will go only so...
Wheat is in a very strong uptrend... Targets 1.650 ... 2.150... 2.400
Here are few points i am looking for long entry 1. Down trend finished 2. Price bouncing off a strong level 708-711 3. Pole starting point showing us strong momentum 4. Good Risk and reward trade 5.Keep im mind todays are US holiday keep an eye for weak break out / fake out potential 6.Strong break out bar AS required !!
Wheat price decline stopped around 740.00 areas, to start rising and hint heading to achieve expected gains in the upcoming sessions, on its way to visit 778.10 mainly. Therefore, the bullish bias will be suggested for today, and breaching 758.50 will ease the mission of achieving the mentioned target, while breaking 745.00 will stop the expected rise and press...
In past reviews, we considered the $760 level as critical for our upside scenario in our preferable variant. The price of wheat fell below $760 and the most likely scenario is to continue the decline to the next target level of $600. Today's close above $760 will resume the uptrend.
Wheat. The price of WHEAT dropped to $760. We marked this level as a point of cancellation of our priority scenario, in case the price continues to fall, most likely wheat will continue to decline to $600. We’ll inform you about the changes in our wave counting in the near future, at the moment we stick to our view: this is the growth of WHEAT to new highs, but...
In 2022, we saw a peak in WHEAT prices of $ 1363. Our priority scenario is to continue to grow, while in the most active phase, wheat prices can soar to new highs. Perhaps 2023 will be difficult in terms of the harvest. A price drop below $760.0 will change our view.
Futures for Black Sea Wheat are clearly on the downside due to fundamental reasons. Finally, Ukrainian Wheat is transported by ships and also from the Baltic Sea through Poland, Lithuania and Latvia. It is relief for many reasons like global hunger, stabilization of basic food prices etc. Emotion are playing a role here and market is on the optimistic side.
Will wheat be indifferent to the federal interest hike ? maybe , price is in Neutral triangle and is ready to fly again
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!
📉 Expecting bullish price action on WHEAT during those times of STAGFLATION on the long term premise i see wheat price going higher making a new ath. Commodity price should rise during those times of ,,incoming reccession,, . What do you think ? Comment below..
📌 @ridethepig ZW1! Market Commentary 17.12.2020 For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation. Whatever...
📉 Expecting bearish price action on WHEAT as price should retrace back to fill the BULLISH GAP'S, we are in a bullish market strucutre on a HTF but right now i expect the retracement What do you think? Comment below..