US WHEAT, still a bit to the downside
US Wheat futures.
2022 Ukraine-Russia War spiked prices to the 13.000$. Since that moment, prices have retraced to the 550$ levels. Notice the useful trend lines, key pivots for reversals.
Also, AVWAP (in purple) since the 2022 highs has been a key line to watch for lately, as short sellers will try to push the prices to the downside when reached.
Elliott countdown also suggests further downside to finish the 5th wave
My PT remains in the 500$ area
2022 Ukraine-Russia War spiked prices to the 13.000$. Since that moment, prices have retraced to the 550$ levels. Notice the useful trend lines, key pivots for reversals.
Also, AVWAP (in purple) since the 2022 highs has been a key line to watch for lately, as short sellers will try to push the prices to the downside when reached.
Elliott countdown also suggests further downside to finish the 5th wave
My PT remains in the 500$ area
Note
5th Elliott wave on development. PT remains in the 500$ area
Note
Nearing PT of 500$, as of writing in the 520$Note
getting there!! Low at 515$
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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.