An observation. Seems bullish for now but expecting either a break to the upside or a retracement down.
An observation. Could be a 10%+ down move.
My algos gave me a long signal on VIX, VXX as well as a few short signals on NAS100USD and SPX500USD. It could be the start of a bigger move.
The trendline is broken and we should see a retracement to the .618 level which is also the previous support & resistance level and volume value area. Keep an eye on the price action on market open to see if the move down was a bear trap. If price bounces off the trendline downward, open short position.
Bullish move is confirmed by volume and MAs. I believe wheat will make about a 12% upward move in the next month. The target is a confluence level of 0.618 and volume value area.
The trendline is broken and we should see a retracement to the .618 level which is also the previous support & resistance level and volume value area.
I've been a bit of a permabear all along and again I think markets are looking weak. Pay attention to the red & green lines I've drawn. 2 or more red lines broken to the upside = long signal 2 or more green lines broken to the downside = short signal