WHEAT, start planting now for a MASSIVE HARVEST...WHEAT: BOUNTIFUL HARVEST SOON... if you seed at the current price range.
KEY NOTES:
WEEKLY DESCENDING TRENDLINE BREAKOUT.
Monthly shifting price lines. HUGE HINT!
Weekly histogram higher lows.
MONTHLY HISTOGRAM SHIFT -- CLOSING UP TO BREAK SOON.
SEEDED LONG (long term) 628.0
TAYOR.
Safeguard capital always.
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RELATED NEWS:
WSJ ARTICLE:
Severe Drought Stunts Great Plains Wheat Crops
Harvest in nation’s breadbasket forecast to be the worst in 60-plus years
June 17, 2023 10:09 am ET
WHEATUSD
WEAT- an agricultural ETF for wheat futures.WEAT is essentially tracking wheat future contracts of various lengths. Importantly, the war in
Ukraine took a disastrous turn when the Russians sabotaged a major dam subjecting thousands
of acres of farmland to potential flooding and compromising the cooling pools for the nuclear
electric generating plant that services a multitude of people. Urkaine is sometimes called the
the breadbasket of the world due to its wheat crops which are due to be harvested. Flooding
will disrupt or prevent harvesting altogether. The 15-minute chart here shows movement of
WEAT price over the first part of this month. While WEAT does not offer s high reward ROI,
it is a low-risk trade for a reasonable return. The issue in Ukraine in dire and will not resolve
easily; its impact on wheat prices cannot be overstated.
WHEAT BULLISH SCENARIOWHEAT agriculture commodity will always be one of the most significant for the survival of the human race. Production, export, and import have been under heavy hits for the past 3 years, especially the past 11 months during the invasion of Ukraine. Ukraine is a major producer and exporter, as we follow the conflict we can easily determine that plays a significant factor in price speculations and it has been very fruitful for day threaders and short-term traders. On the 1hr chart, we can study 2 findings, resistance level at 800' an uptrend channel with a 50$-60$ volatility range. Bulls can pursue reaching that resistance and hope for a break.
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Wheat price attempts to recover – AnalysisWheat price decline stopped around 740.00 areas, to start rising and hint heading to achieve expected gains in the upcoming sessions, on its way to visit 778.10 mainly.
Therefore, the bullish bias will be suggested for today, and breaching 758.50 will ease the mission of achieving the mentioned target, while breaking 745.00 will stop the expected rise and press on the price to resume the bearish track.
Financial Wave. WheatIn past reviews, we considered the $760 level as critical for our upside scenario in our preferable variant. The price of wheat fell below $760 and the most likely scenario is to continue the decline to the next target level of $600. Today's close above $760 will resume the uptrend.
WHEAT AnalysisSee Chart For Top-Down Analysis Ideas.
-Price inside motnhly area of demand
-Daily downtrend trend lines broken
-4hr downward channel broken
-Price above 4hr 200ma
-Opposing pivot point area of supply removed
-Some traders will look to take the first demand area as a continuation of trading with the trend while others will wait for new lower timeframe 5min buy setups.
--A
WHEAT BUY 1HWheat is trading above 200EMA on both Price and Volume. We could see a rise in price to 896.
There is also a bullish divergence on 1 hour RSI.
War is not over...
Wheat Heading back to $700-800 range, supply surpassed demandWheat Heading back to $700-800 range, supply has now surpassed the demand.
Ukraine is now shipping wheat from Moldova and shipping out via train etc
Russia is supplying Ukraine wheat from Mauripol
Russia is supplying wheat to Bandladesh and a number of African countries
Australia has had 20% bumper record crop being on the top 3 wheat producers
Price will go back to normal now it has almost been 6 months since the war has started
Wheat prices are soaring higher and here is why:As of now wheat was in bull rally, updating new ATH's, since the start of Russia's war against Ukraine.
Russia and Ukraine control over 30% of world wheat exports and now Ukraine can't export it's wheat because of navy blockade, and Russia tightens it's wheat export policies planning to use it as a weapon against unfriendly countries later.
A couple months ago India announced that it will replace Ukraine and Russia with it's own exports, however Mother Nature didn't like those plans as India soon got hit by anomalous heatwave of 40-45 degrees across whole country. Those, On 14th of May India banned wheat exports as crop predictions got considerably lower.
European Wheat futures already updated All-time highs, trading above 430€ and I don't think we are ever close to reaching reversal.
From technical standpoint we see triangle and we need to see longer accumulation before breaking current all-time high.
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
WHEAT LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on WHEAT during those times of STAGFLATION on the long term premise i see wheat price going higher making a new ath. Commodity price should rise during those times of ,,incoming reccession,, .
What do you think ? Comment below..
ridethepig | Wheat for the Yearly Close📌 @ridethepig ZW1! Market Commentary 17.12.2020
For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation.
Whatever may be the case on the climate side (and I am certainly no expert here) it has been one of the biggest crops on year for Russia. Fertile farming at its best... Tracking closely the 600 support, for a move towards 900 and 1350 ... watch out for any battle against this in the coming weeks as we enter into a commodity cycle.
Thanks as usual for keeping the feedback coming 👍 or 👎
WHEAT SHORTS 📉📉📉📉 Expecting bearish price action on WHEAT as price should retrace back to fill the BULLISH GAP'S, we are in a bullish market strucutre on a HTF but right now i expect the retracement
What do you think? Comment below..
Wheat: extreme levels and it will continueIt doesn't matter its overbought, the price continues rising. The war can create one-time only events in the markets. We've seen the Russian Moscow Exchange closed for more than 1 week, USD/RUB skyrocketing and commodities such as Wheat going up completely out of control. We bought Wheat more than a year ago and we've added more volume as the uptrend continued, but seeing these events, we increased even more volume 2 weeks ago and we will continue to do so as this Ukraine-Russia crisis keeps escalating. In European countries, depends a lot on Wheat from Ukraine, and that was completely halted since the beginning of this war. Also, according to some food producers, they have stock for 2 months tops. They don't have an alternative solution for this. Food prices are going up, and if this war continues, many food produces in the EU will not be able to produce wheat-based food in normal figures. The situation is very critical at this point. Disruption could last half a year at minimum. We hold it and add more volume daily as long as this crisis continues.
WHEAT SHORTS 📉📉📉This week i expect bearish short move on WHEAT as price finished its impulsive movement on the bullish market strucutre, price made a lot of bullish gaps on its way to the current price meaning it will go lower soon to fill those gaps.
On a long-term basis i am still bullish and i will look for LONGS once retracement ends, this is kind of a risky counter-trend trade.
What do you think ?
WHEAT LONG-TERM LONGS 📉📉📉📈 I just wanted to share with you the reason behind the big bullish move on WHEAT, Ukraine is the country that exports the most wheat in the Europe so the price will rise because of the supply damage. Also as we are in a RISK OFF market sentiment investors tend to buy this asset as they are thinking about PROTECTION both on money and themselves. I think we will see wheat way above 1200-1300$ if the military conflict it will continue. From a technical perspective we are in a clear bullish market structure as price keeps printing higher highs and higher lows
What do you think ?
Food shortages entering back into playThe playbook for manoeuvring - actively adding longs
We can start with a quick review of the general plan for the operation I shall be discussing. I imagine all sitting in longs from earlier in the year are ready to exploit greater freedom of movement which we we will posses a tick above August highs. So to seize the point, our attack is a momentum move, like a sailing boat when we get caught in the wind.
Eyeballing a test of first targets at 900 as early as the yearly close. As can be seen from above, it would be quite wrong to describe these moves here as anything but painful for consumers. Depending on the price action at 900 we are flirting to unlock the GFC highs. We are 23% and counting, time to start swinging the bat!