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Wheat

Wheat CBoT possibly getting ready for a long playWheat: After about a month of moving back and forth in a zone that we described as 'the jungle from where we do not see the exit' the price has come out of the woods on the upside. This encourages us to have a look at possible long play. However, before we will feel comfortable to entertain a long trade we first need to be sure that this is not a bull trap. If we are convinced of that we will look for a possible entry point in which our stop-loss level is actually more important than anything else. After all, guarding and preserving the trading capital is more important than making a profit.
CBOT:ZWN2016
by Remko
Wheat: overwhelming pessimism leads to a bottomWheat has formed a gigantic weekly base, and is ripe to rally once price moves above 469'6. It's a bit premature to buy, but we could get away with huge R multiples if this trade setup works. Open long positions on a break of this level, with stops under the previous week's low. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
CBOT:ZW1!Long
by IvanLabrie
2
Weighted Basket of 5 Agri Commoditeis - Hyperinflation Coming*EDIT in text quote on left of chart - *Synchronicity in between I have created an equally weighted portfolio of 5 sustenance based commodities including Soybean, Soybean Oil, Sugar, Wheat, and Maize (continuous fwd contracts). This is an update to the first chart I have published (rough rice) which isn't updating for some reason but if you see the RR1! graph on another website you will see that my analysis is 100% on point so far and even identifies exact msp level prior to breakout. I am expecting sustenance based commodity hyperinflation in the coming years as we enter a macroeconomic environment that the economics textbooks have never described. The money manager commitment data points to breakout, technicals show clear range suppression and evident accumulation pointing to impeding breakout. Global trade statistics are abysmal, statistics of subprime/consumer debt/corporate debt delinquencies are abysmal, PE ratios of leading equity markets are abysmal. I do not wish for this to happen because this will affect billions of people but this is most likely what is going to happen. Best of luck.
BLong
by RahulAndra
9
Wheat No Play yetPrice did not develop as per our preferred path during last week and broke through the downside of our ascending price channel. This makes us feel less comfortable although the critical supportive level of 450 remains intact for now. However, with the price making a move down last week we will only start feeling more comfortable if price breaks the 480 level and settles above decisively. For now price is rather in an area that is probably best described as 'the jungle from where we do not see the exit' and we should rather hold back for now and see when price gets out of that jungle and, especially, on what side.
CBOT:ZWN2016
by Remko
1
RunningAlpha Upgrades Commodity Markets Update to Priority ListRunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76 levels if on a spike. Bullish window for buying on dips extends into at least June period -- this also applies to Brent Crude. Russian Stock Market ( $RSX ) looks bullish during this period. Oil and Gas Drilling stocks will likely continue higher on balance -- particularly a core position in stocks like $PBR.A would be sensible, which should also benefit from a continued bullish run in Brazilian Equities ( which I expect Brazilian equities should trend higher into the summer, and again later in the fall to close out the year much higher ). Among many other equities in Latin America, $ARCO and $KOF also have a strong bullish bias with sentiment conviction windows extending into foreseeable future. Other Commodity Markets showing very significant sentiment strength going forward are in the Agricultural complex -- Soybean, particularly Soybean Meal $SOYB, Rice, Corn $CORN, Cotton $BAL and Coffee ( $JO is ETF -- when above $18.02 and especially when trading above above $19.00, then $27 is interim target ), and even wheat to some degree. Equities that would benefit from a rise in these commodity markets should have a tail-wind. Silver and Gold stocks, which RunningAlpha.com has been bullish on for a few months now, still shows signs of strength on pullbacks. Sourced from premium sentiment conviction list on RunningAlpha dot com
NYMEX:CL1!Long
by runningalpha
Wheat short play opportunityThe price of CBoT MAY16 wheat develops and interesting short play opportunity here, same although going short in the lower regions usually is not to be recommended. Price has started to create a descending price range channel during late January with lower highs and lower lows. The candle of March 2 is a bit contradictory in the sense that price made a lower low again but one could classify the shape and position of the candle as a 'Hammer', be it not a perfect one. Price made a solid move up of some 2% on March 3 which pushed price straight to the upper boundaries of the descending channel where the upper trend-line (in red) coincides with the horizontal (in black) line. This line was support to price during 4-7 January and during 8-12 February but same support was broken quite decisively on February 23. Now the same horizontal line offers resistance to price together with the earlier mention (red) upper trend line of the price channel. A short play entry is being offered here with stop at 476 basis intra-day or at 466 basis end-of-day. First target 430 which is a 5% swing down from here and where at least half the position will be closed. As soon as there is a bit of profit in the position we trail the stop down to entry level in order to protect our capital.
CBOT:ZWK2016Short
by Remko
Wheat preparing for a shot to the sky again?It's all in place for a new potential turn... Context From extreme top to center to extreme low again. And here we are, at the L-MLH (Lower Medianline Parallel). We had a nice push through the upper ML-H. And so we can expect the same below here (dashed red sliding). In these higher timeframes we can see very good how price is reacting within a fork, which represents nothing more the a function of Newtons Law (Action/Reaction). Price Action A real pressing at the U-MLH of the red downsloping fork. See the WRB around 2010? This rocket bar gives information...see where the support was later since 2014. Trade Idea Potential turn to the north could be within the green zone. I allways prefere to wait for a sign, like a break of the red U-MLH and take the PB if i have a good stop. Alltough, here i would take it at the red sliding too, with my stop behind the green lines. Peace!
WLong
by Tr8dingN3rd