KC Wheat possible long!KC Wheat could be forming a midterm bottom! Bullish divergences and reacting at key support levels. Set your alerts!
Kcwheat
KC Wheat possible long!KC Wheat could be forming a midterm bottom! Bullish divergences and reacting at key support levels. Set your alerts!
Just look at this!Kansas City Wheat and Live Cattle charts looking scary similar. Hope all you cowboys out their are hedging a few years out at these prices.
10 yr KC Wheat potential10yr KC Wheat outlook: Potential course of the KC Wheat market for the next 10 years. Overall the Wheat chart takes a more gradual incline up over the past 50 years but when the market gets spooked, prices can rally in a violant way. After this market tops, I feel the World’s supply and demand fundamentals of all Ag Commodities could support a more gradual transition lower for wheat if food security and shortages remain elevated. The market should remain very sensitive for another few years. Sensitive to world demand and production misses across the globe. There are many climate cycles coming ahead that could add to potential Ag production shortages. Wheat is used for food, Corn and beans have other purposes that could influence more volatile markets ahead for them…
**Not a prediction, something to watch**
KC Wheat Rate of Change PotentialKC Wheat – 3mo Continuous: Comparing our current Bull market with the previous major bull markets of the past 50 years. Currently the 24 mo ROC high was set in March at 225% with a price of 12.99. If KC Wheat is to match the 06-08 ROC of 275%, then that would project a price of $15.00
**Disclosure** Do not take this as trading advice. The potential is there for higher markets, but anything could keep us from getting above today’s High.
KC Wheat - Weekly continuousUsing the low to high retracements, KC Wheat is currently finding consolidation of support in the 10.20 area. Below 10.00, lower targets remain at 9.56 and 8.62. Volume based risk down at 8.07.
If we can confirm the recent low at 9.93 I will draw upside retracement targets. For now resistance above at 10.75 to 10.95.
