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Wheat

Trade War and Commodities - Technical Behavior ExplainedFirst let's take a look what happened between China and United States. FUNDAMENTAL VISION -At the beginning of 2018, United States started a trade war with China, imposing tariffs on different products. -In response to this measure, the Chinese government imposed tariffs on US products including some raw materials, the main product exported by the United States to China. -In relation to this, there was an excessive decrease in exports, reaching the minimum quantity exported in the last 8 years. -By decreasing the demand for products, this led to a decline in prices. In the case of soybean, we saw a few days ago how the price reached the minimum since 2008. TECHNICAL VISION WHEAT WEEKLY CHART SOYBEAN WEEKLY CHART -We observe that price behavior was pretty similar in both assets. -In case of Soybean, the first down move was stronger than the Wheat, but then both of them started a similar consolidation/accumulation process to continue the down move. -In the case of Wheat, price did a -18% movement since the previous Max., and then formed a flag pattern that lasted around 5 months. The breakout was perfect, and the bearish trend continued with a -16% movement. In total the downside movement of Wheat was around -28%. -The first down move of Soybean, was around -24%. The pattern of consolidation was an ascending wedge for about 6 months, in which the movement after the breakout was slow at the beginning, but then it dropped on a -12% move.
OANDA:WHEATUSD
by ThinkingAntsOk
ZW1! Long Idea- OpinionHi there ! This is a recent analysis for ZW1! that focus on long positions. As you see at the weekly chart the price after a short breakout tend to rebounce to the median of the bollinger bands , this long swing signal it is also confirmed from ADX and RSI also tend to give a solid buy signal after the recent oversold levels. The opinion here is that ZW1! is going to reach the price level of 490$. As we enter the mid spring season prices tend to go higher through crops all over the world and especially in the summer season. **This is not an investment advice , it is only for educational purpose** Invest with safety.
CBOT:ZW1!Long
by OmenFinance
Wheat finds support? Looking at the July Wheat futures ZWN2019 , the price bounced off of support yesterday and experienced some follow through buying for a higher close today. For analysis purposes, I would call this a long play with a target set for the $5.35 price range. Couple of things I like looking at this chart is the positive trending RSI as well as the solid bounce off of support on the bottom. Overall this chart is trending lower, but I believe there could be short term profit potential on the long side today. A breakout above the 21 day moving average as well as above the 50 day moving average would be beneficial to a long sided trade. Though pressure at the moving average could likely allow bears to take control and push the price toward support. Based on the intraday close I expect some pull back from potential profit taking. The 3 hour view shows a bearish trend reversal in the bar chart, and I wouldn't be surprised to see the price fall back to the $5.21-5.23 area before making a move higher. An entry in that area would be ideal to maximize trade potential. Looking at a weekly view, if the price continues strength tomorrow and Friday we could be looking at a bullish trend reversal. Will have to monitor to see how the week closes. Everything stated above is solely my opinion and by no means a recommendation for a trade. I may or may not hold positions in the instruments I analyze. Lets see where this one goes. Cheers, L.R.
CBOT:ZWN2019Long
by SouthFutures
Wheat is contracting for a breakout Wheat is contracting into a symmetrical triangle and is poised for a breakout. Volatility as measured by a 14 day ATR is the lowest it has been since last year February, this is generally a good sign of a market poised for a large move especially when combined with a definitive consolidation pattern like a symmetrical triangle. Which way the break will occur is another matter entirely, wheat prices have generally been trending downwards over the last 7 years and therefore the recent rally in prices could be seen as simply a correction in the overall larger downtrend. However wheat recently put in a higher lower and higher high and formed what could be interpreted as a very ugly inverse head and shoulders pattern. Based on this observation I am leaning towards the conclusions that a base has been formed in price and a longer term uptrend is beginning to establish itself. Despite this a break in either direction of the triangle will be acted upon. Top side breaks should target 561 while downside breaks should target 478. Stops can be placed at 518 and make sure to seek entries with positive risk reward ratios, ideally 2 to 1 or more. *This is not a recommendation to buy or sell it is for educational purposes only*
CBOT:ZW1!
by MarkE
2
ZW1! Long IdeaHi guys ! My view is a long position for ZW1! according to G20 meeting Trump - Xi Chiping will find a short timely solution about the recent trade war , so agriculture futures will temporarely rebound i think . According to my technical indicators that i use ADX and Vortex index , they signal a buy just for a quick trade . ADX tends to achieve 40 and the + vi is above the -vi which is a buy signal. My target is for now 525. Hope you find that usefull , have fun ! This post is not an advice , it is just an idea so be carefull for any positioning.
CBOT:ZW1!Long
by OmenFinance
Wheat - Time for a choiceWheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting: Weekly MA 20 just above 525 with negative direction Daily MA 50 just above 525 with negative direction We are in decline on the monthly charts 1H, 2H and 4H chart overbought Sell at 525 $ SL - 530 Target 485 $ Timeframe 2 weeks!
CBOT:ZW1!Short
by SlaviToskov