Long

Potential rally in wheat

Updated

Based on COT reports commercials are long wheat. They are correct 98%. It may take time to form a buy signal. But with that in mind, we look for buy signals - whatever happens first
- break out of daily resistance
- lower high + oversold oscillator
- divergence (I use RSI and OBV)

Note

sorry, made a typo - higher low + oversold oscillator )))

Note

If yesterday's low holds, we can see 508 coming few sessions

Note

Make partial profit-booking and lower stop

Trade closed: target reached

Target 508 reached. However, there is still a lot of room up for swing traders. Continue to look for and take buy signals in wheat

UnknownUnicorn1156963

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