Technicals: After large rally in the beginning of the year followed by similar drop over the past months, Wheat has been consolidating in 750-850 range. From the technical perspective, I am missing a convincing rejection of the lower lows before a rally can take place. However if the fundamentals were strong enough, they would subsidize for such price action. ...
I think that with the end of the grain shipment in Ukraine, the direction of wheat will move up again around the world. Indicators have started to produce buy signals and can be bought and held in the long run.not investment advice
I've been watching Wheat and Soy for a couple of weeks here as I've never traded them. I feel like I have a decent enough understanding of how they move to attempt and entry today. Got a bullish signal with price action context for a potential long trade, looking for retracement entry.
My prediction for this symbol is bearish and the price may continue its downward trend until the predicted level.
Techically speaking, my perspective to go LONG: 1. Touched a strong rising trendline (white oblique line) 2. Price on 0.618 Fibonacci level 3. There are a lot of supports below current price than resistances above (horizontal red lines on charts) 4. Price is close to important volume cluster 5. Buying divergence in RSI indicator 6. Daily volume falling during the...
WHEAT has fallen back to long-term support line and MACD is showing signs that selling pressure is slowing down. Price rise could follow after MACD crosses up bullish.
Will wheat be indifferent to the federal interest hike ? maybe , price is in Neutral triangle and is ready to fly again
The wheat dropped in the qualified demand zone and I expect at least the move draw on the chart. Do risk free and then trailing stop!
Wheat Heading back to $700-800 range, supply has now surpassed the demand. Ukraine is now shipping wheat from Moldova and shipping out via train etc Russia is supplying Ukraine wheat from Mauripol Russia is supplying wheat to Bandladesh and a number of African countries Australia has had 20% bumper record crop being on the top 3 wheat producers Price will...
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!
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Wheat retracement is about to reach 1000 USD. It is a perfect place to bounce off and start climbing back up. Next contract in line is more expensive, so with respect to seasonality and geopolitical risk, a growth should be expected.
If the trend line holds, we could see a big pullback to the upside. ****Disclaimer: This is not an financial advice, it is only for educational purposes.****
Taking into consideration the situation in Ukraine who is a big contributor in the global wheat market I suggest a good old short!
this is my bullish trend continue idea. however wait for come key level after how to respect to key level after trend continue to up trend you can entry ,so this is my opinion only .