WHEATF | Wheat Poised for a Rebound!
👋 Good day, traders!
📈 After a two-month decline on the D1 chart, WHEATF has found support at the 540 level. Given its month-long accumulation phase and the completion of its downtrend, a breakout above the 587.75 resistance level could signal a rally towards target levels of 615.00, 660.00, 695.00, and 732.00. Consider buying entries around the 595.00-600.00 range, targeting potential profits of 3.3% to 23.0%, with a SL set at ~565.00.
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❓ I'd love to hear your thoughts. What's your take on this?
DISCLAIMER:
This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.
📈 After a two-month decline on the D1 chart, WHEATF has found support at the 540 level. Given its month-long accumulation phase and the completion of its downtrend, a breakout above the 587.75 resistance level could signal a rally towards target levels of 615.00, 660.00, 695.00, and 732.00. Consider buying entries around the 595.00-600.00 range, targeting potential profits of 3.3% to 23.0%, with a SL set at ~565.00.
✅ Give a 👍 if you're keen on more insightful and profitable trading ideas❗️
❓ I'd love to hear your thoughts. What's your take on this?
DISCLAIMER:
This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.