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Wheat

Wheat monthly potential bottom setting upThe monthly wheatusd chart looks like it may be setting up a potential long term bottom. +DI has crossed above -DI and has put in a solid support line at 4.090 holding for past 4 months ADX has continued to trend up signaling a strengthening of dominant trend (+DI) TRIX has been moving toward 0 from negative Stoch, after being oversold for past year, has moved above 25 and continues to climb Continue to watch 4.090 to hold. if price closes the month above this line, momentum should continue to build for up trend Look at Weekly and Daily charts for signals to enter long position. Weekly 4.214 is an important resistance line on weekly. A close and hold above this line weekly would signal building strength in up trend Daily Neither weekly or daily have clear buy signals but rather both have their ADX below 20 indicating price consolidation in all 3 time frames.
OANDA:WHEATUSD
by mxb1961
Cup and Handle Formation on Wheat FuturesIn my continuing quest of using price action and TA to find opportunities in the futures markets, I search through each futures product each day to see what the weekly charts look like. When I stumbled upon Wheat Futures, I realized that Wheat was forming a perfect cup and handle pattern on the chart. This was honestly pretty sweet because it was the first time I've found such a pattern on the chart. This is usually a very bullish signal. Although I cannot trade the futures directly on my paper trading account here, I am looking at the ETF equivalent, but haven't found that one yet. Regardless of what the move does after this, it will provide a great data point when it comes to analyzing different chart patterns, such as the cup and handle. As always, when entering a trade I'll look to risk no more than 1% of my capital, and look to take profits right around the 3:1 or 4:1 risk reward ratio. All the best, RC
WLong
by BrandonBeylo
1
Wheat to turn at the corner?My mate @Bo here on TV gave me a heads up. I can see the following on the chart: - very stretched down swing - coiling = something is cooking in here - price landed nicely at the A/R line The white fork is a "potential" projection of price. If price close out of the L-MLH, then the fork is not valid anymore. Let's see if there will be something more interesting. I don't like to jump the gun, there is mostly a re- entry if I miss it. But we need to stalk it for sure! Hunt mode ON ;-) TNX Bo for the heads up. P!
WLong
by Tr8dingN3rd
11
WN2017 - July '17 Wheat FuturesAs the market made lower lows, the MACD indicator made higher highs. This is very powerful bullish divergence. Circled is where the MACD crossed over to the upside, further indicating bullishness. Stops should be placed slightly below the most recent low of 429'4, which occurred on March 31. Profit targets are at the Fibonacci retracement levels. Target 1 - 459 Target 2 - 483 Target 3 - 503* *Following the same pattern as the other upward movements would put price at this level on June 21, the summer solstice.
WLong
by darkmorg
Wheat - Demand LevelThis is purely a technical view as I am not familiar with wheat fundamentals (Ag fundamentalists please chime in I would love for this to be a learning experience for me); This is however my view of a potential technical validation of the Demand Exchange at 4.07 based on my general view of commodities/dx/oil over the next couple of months as I see a potential pop in the DX after through the March FOMC meeting followed by a small decline in the DX. 4.07 is also in line with the April 2007 major wheat rally kick off. Looking forward to hearing from you and learning about wheat, Good trading all!
OANDA:WHEATUSDLong
by smitheric1970
Wheat: Long Term Wave Count (Attempt) & Potential Bullish BatI am still getting my feet wet with waves so take this count with a grain of salt..however I thought it was educational for myself and potentially others. Even though it seems very "convenient" that we are coming close to the end of Wave C, it does align with the view of the bullish Bat pattern. If you see something I can fix please share it with me so I can learn and improve! :) That said, I will be buying wheat at the bat entry shown if the price ever makes its way there. Cheers!
WLong
by SharkbaitAl
CBoT wheat dailyThe daily MAY17 chart shows that price has been under control of a long term descending resistance trend line that started during the 2nd half of July 2016 which was broken by price to the upside on January 5. From there on price traded an ascending channel which has its origin at the 406 level on December 23 and offered support to price on January 30 and on February 7. Price has now again arrived at same supportive ascending line which should offer immediate support from Monday’s session onward. The ascending line starts at 445 on Monday and ends at 450 by the end of the week. We will allow price to pierce through same support but we do not want to see price trading below 427 in which case we will have to reconsider our bias.
CBOT:ZWK2017Long
by Remko