There are many possibilities on wheat, one of them is really interesting:
- break up to the range area 460/530 there is space to the seasonality's spike above 600 with a r/r 1/2
- other possibility really interesting is if a new small downtrend will begin to the low of the range and then will be a great buy around 450/460 to the noticed spike for winter coming
Weekly:
- Ichimoku is still bearish biased, but it has lost bearish momentum. Triple bottom? Tenkan and Senkou A started to point up.
- Heikin Ashi shows undecision again: after two bullish candles this week we have a long wicked doji and smoothed haDelta is ard zero line.
Daily:
- Ichimoku is neutral, price is at equilibrium
- Heikin Ashi is bearish biased but...
Weekly:
- We have a very precise downtrend line (with 5 tops), which is still far above recent weekly candle, but will be very important once again we get there. For now Ichimoku setup is still bearish, but as it failed to make a lower low below 463 key level, it may turn to neutral again within next few weeks.
- We possibly have a triple bottom in place! This is...
Weekly:
- bearish Ichimoku
- bearish Heikin Ashi
- if it can not make a "triple bottom" ard 460, then 425 will be in focus
Daily:
- bearish Ichimoku
- bearish Heikin Ashi
- pull backs are possible from time to time, but 480-485 is strong short term bearish support
Olease note that the new front contract is December, which trades ard 464 right now. Consider that as ZW1!
It looked like a start of a sustainable bullish move, but what we have seen during last three weeks was a bit tricky. Initially it looked like a pull back, but the sellers got more control.
Weekly:
- Ichimoku setup is back to bearish biased, but it will be hard to go full bearish again, unless price moves below 480 and Chikou goes out into open space again.
-...
For info: as the July contract will expire next week, I placed September contract on the daily chart.
Weekly:
- Major trend is bearish, but Ichimoku setup has some neutral bias on the weekly. In the last 4 months wheat has been trading around weekly Tenkan Sen, appr. 500 +/-
- Heikin Ashi shows undecision, haDelta has some positive divergence
- Right now from the...
Weekly:
- Ichimoku setup is bearish, Price is below all averages.
- Heikin Ashi has been showing undecision in 475-515 range for the last 3-4 weeks. However haDelta/SMA3 may cross back up above zero line and it has still a bullish bias. HA Oscillator is bullish.
- We may see a pull back towards weekly bearish supports between 555-575
Daily:
- Ichimoku setup has...
Wheat is neither good, nor bad.
Currently, it formed a bullish flag on daily, MACD/RSI convergent with price that is going up.
First, breaking into a new 15 day high, above 530 would mean breaking the small wedge and going up.
Breaking the 200 day EMA at 535$ would make wheat go into an uptrend, all the way to 600.
News:
economictimes.indiatimes.com
Hedge funds...
Pls see original trade idea below:
Udate:
- First Kumo breakout was not succesful, 525 resistance blocked the move.
- After two days pull back t 500+ support it looks like Wheat gained enough power to attack the Kumo again. Heikin Ashi gives a buy signal: Green candle follows a doji, haDelta/SMA3 bullish cross above zero, HA Oscillator still bullish, and the...
Weekly:
- Ichimoku setup is bearish, with thick Kumo far above Price. However Price got far away from Kijun Sen, sooner or later it should attract Price back towards equilibrium.
- Weekly Heikin Ashi candle with haDelta signals a start of a pull back, and possible more counter bullish Price action (correction) towards the supports (Kumo, 100 WMA, and/or Kijun...
Another long-term opportunity to enter long.
Monthly analisis:
On D1 chart we can see the price reacting from the PRZ and the trendline support forming a pinbar.
Best regards
You can hardly get a simpler and less ambiguous recommendation than that.
After a 7 year bear market I think the time may have come for wheat to rise again. You can see a small monthly RSI divergence which has formed over the past 6 months and a larger hidden divergence which has formed over the past 5 years. Commercial buying is at historic levels and the...
- Chance for a doube bottom in July Wheat futures contract.
- Kumo is getting thin ahead
- Ichimoku setup slightly bearish, but may turn back to neutral.
- Heikin Ashi signal is buy for short term. The real test of bulls and bears will come at 515. If Price breaks above that horizontal key level, it will blow further up towards 600.
For a short term trade buy...
