WN2017 - July '17 Wheat Futures
As 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.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.