Update : I don't know what was wrong, but the chart was not right. Two days latter, the chart looks like this It doesn't look that bullish anymore, but it isn't bearish either.
Last Monday, wheat broke the 550 support, and that's when I became extremely bullish. Today, I believe a new uptrend has started, and the next days are going to confirm or infirm this. A...
What do you know about the effect El Nino? Did you know that there is also the La Nina? El Nino and La Nina are opposite phases of what is known as the El Nino-Southern Oscillation (ENSO) cycle.
The ENSO cycle is a scientific term that describes the fluctuations in temperature between the ocean and atmosphere in the east-central Equatorial Pacific.
La Nina is...
At the beginning of the 2008 while the sub prime crisis start to be feared by all the wheat touched peaked, since then until mid 2010 the price dis-inflated severely (lost around 65% at the time from the $1320’s to a very better $480’s the contract.
But as the recovery geared traction from 2010 it reduced the lost of price more than half when made at end of 2012...
Looking back and finding patterns is always easy. The key is finding pattern at the right side of the chart. I posted a chart a few hours ago with what is happening right now in the wheat market. This chart is just proof that technical analysis works on wheat. The best patterns as you can see are classic technical analysis price formations like double tops and...
This is my first published chart with a custom indicator. Until now, all my charts had 3 manual plotted EMAs, making up a Wave. Now, thanks to user LazyBear, I have an indicator which plots all three of them, making it much easier to change their value. I will be using this indicator from now on. Thank you LazyBear for your great work!
Wheat is currently standing...
LOOKING AT THE DAILY GRAPH OF WHEAT, WE SEE A POSITIVE DIVERGENCE AND A POSSIBLE LONG POSITION CAN BE TRIED FROM 550 (SUPPORT) AREA WITH A T/P AT 578 AREA.
TRIX BEING TOO LOW CAN BE AN ADDITIONAL CONFIDENCE FOR THIS POSITION.
S/L SHOULD BE AREOUND 545 AREA.
