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Agricultural Commodities

Wheat futures are momentum! | 7th April 2022Title: Wheat Futures (ZW1!), H4 Bearish Dip Type : Bearish Dip Resistance : 1064'0 Pivot: 1031'6 Support : 982'2 Preferred Case: Prices are on bearish momentum and abiding by a descending trendline We see the potential for a dip from our Pivot at 1031'6 in line with 50% Fibonacci Retracement towards our 1st support at 982'0 in line with 100% Fibonacci Projection . Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1064'0 in line with 50% Fibonacci retracement and 61.8% Fibonacci Projection. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Wheat Futures (ZW1!), H4 Bearish DipType : Bearish Dip Resistance : 1075'6 Pivot: 1036'6 Support : 982'0 Preferred Case: Prices have approached our Pivot at 1036'6 in line with 61.8% Fibonacci Retracement. We see the potential for a dip from our Pivot at 1036'6 towards our 1st support at 982'0 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias. Alternative scenario: Price might continue to climb towards the 1st resistance level of 1075'6 in line with 100% Fibonacci projection. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Soybeans Future (ZS1!), H1 Bearish dropType : Bearish drop Resistance : 1643'2 Pivot: 1623'2 Support : 1579'6 Preferred case: With price moving below the ichimoku cloud and expected to reverse off the stochastics indicator, we see a potential bearish dip from our Pivot at 1623'2 in line 38.2% Fibonacci retracement towards our 1st support at 1579'6 in line with the horizontal swing low support and 161.8% Fibonacci extension. Alternative scenario: Alternatively, if price breaks our pivot structure, it may head for 1st resistance at 1643'2 in line with the 61.8% Fibonacci retracement and horizontal pullback resistance.
CBOT:ZS1!Short
by Genesiv
Soybeans - November22 WeeklyNew Crop beans quickly moved up to fill the primary (162% retracement) target at 14.14 and continued further to 15.55. The Close below the blue Tenkan line will have Nov22 beans searching for price action down to the red Kijun line at 13.74. Volume by price is running low below 14.00 and that should concern the bulls as further risk would be in the 13.10 area. New upside targets will be made on a confirmed low. Until then, the 14.60 area offers strong resistance above.
CBOT:ZSX2022
by mtb1980
Soybeans - May DailyFriday’s break into the cloud has the look for the short-term outlook to have a change in trend. From bullish to 1. Sideways or 2. Bearish….The blue tenkan line is about to cross under the red kijun line. The lagging indicator (gray line) is attempting to pass through and below previous price action. **notice the volatile activity during the time that the gray line is currently at ** Also the break of the uptrend lined and the move below the 24% retracement is concerning for a potential change in trend. Targets below at 15.47 and then 14.82. Because this is a daily chart, beans could still find support at any level and at least find a wide range to chop around in for some time. I will look for upside targets once a pivot low is confirmed. Resistance is strong at 16.75
CBOT:ZSK2022
by mtb1980
Soybeans - Weekly continuousThe 17.59 high left behind the week of Feb 22 had price action accelerate into the bull trap area (113%-127% retracements) and quickly fell back to close lower for the week. We had since moved up, but beans failed to find bullish energy to make a new high. The weekly close below the blue Tenkan line has the bulls on alert. Support below at 15.48 and then 14.75-14.69. There is a void in volume below 15.25 down to 14.25 that could be important in identifying risk the next few weeks. Risk at 14.25 to 13.66. Should beans get a weekly close back above the blue Tenkan line, upside targets will remain valid with the big picture primary target at 19.67
CBOT:ZS1!
by mtb1980
Corn - Weekly ContinuousPrice stalled out in the bull trap area between 7.66 and 8.00 after placing the 7.82 high. Bull Trap- Mark a new high and clear out any stop orders above previous highs but fail above in the 113%-127% retracement area. Open interest has been trending lower since last year’s breakout into this bull market. Funds are near record long already but with the amount of money in all markets, it should not surprise to see more fund length enter our commodity space. I feel that the end users control this next move. If they feel the pressure to extend their coverage, I expect the Funds to follow their lead and enter the long side of this market. Any extension to open interest should be positive to Corn prices…. Support 6.97 then 6.45. Resistance 7.66, 7.82, with targets above at 8.32 and 8.82
CBOT:ZC1!
by mtb1980
Soybeans Future (ZS1!), H1 Bullish riseType : Bullish rise Resistance : 1623'2 Pivot: 1580'0 Support : 1546'4 Preferred case: With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1623'2 in line with the 38.2% Fibonacci retracement and pullback resistance from our pivot of 1580'0 in line with the 161.8% Fibonacci extension and swing low support. Alternative scenario: Alternatively, if price breaks our pivot structure, it may head for 1st support at 1546'4 in line with the swing low support. Fundamentals: No major news.
CBOT:ZS1!Long
by Genesiv
Coffee Futures (KCK2022), H1 Potential for Bearish Dip!Type: Bearish Dip Resistance : 229.45 Pivot: 227.30 Support : 220.80 Preferred case: We see the potential for further bearish continuation from our Pivot at 227.30 in line 78.6% Fibonacci projection towards our 1st support at 220.80 in line with 50% Fibonacci retracement. Our bearish bias is further supported by stochastic indicator where it is at resistance level. Alternative scenario: Price might move towards the 1st resistance level of 229.45 in line with 100% Fibonacci projection and 78.6% Fibonacci retracement. Fundamentals: No major news
ICEUS:KCK2022Short
by Genesiv
Soybeans Future (ZS1!), H1 Bearish DropType: Bearish Drop Resistance : 1679'4 Pivot: 1667'4 Support : 1623'6 Preferred case: With price expected to reverse off the ichimoku resistance and the descending trend line, we see the potential for bearish drop from our Pivot level at 1667'4 in line 50% Fibonacci retracement towards our 1st support level at 1623'6 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 1st resistance level at 1679'4 which is in line with 61.8% Fibonacci retracement and horizontal swing high resistance.
CBOT:ZS1!Short
by Genesiv
Wheat back at Key $1000 levelWheat has been the most volatile commodity since the war started and we have fallen back to $1000 as peace talks improved. Similar to Oil though peace will not fix the supply/demand issues with Ukraine and Russia accounting for 30% of wheat exports. The consolidation period is likely over and if we can get some positive price action more buyers are likely to come back to a very tight supply market. A close below $1000 would hurt bullish sentiment. easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. “Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
EASYMARKETS:WHTUSDLong
by easyMarkets
Wheat - 2 long / 2 Short scenarios - Good bread takes timeGeneral Wheat seems to generate a nasty SFP. It took out the recent Swing High and then dropped over 22%. With the monthly close coming soon i could image it going lower before finding support. I marked 4 Scenarios which i would be happy to take either. 1. Long (Blue arrow) Price moves to the red rectangle (area 1), finds support and "generates a swing". Price goes lower before breaking above the generated swing where i would then look on a LTF for an entry. Target: A bit under the range high SL: Depending on the LTF entry i wouldnt want to see it going lower than support Invalidation: Price breaking under area 1 Time duration: Days, weeks, months, years... ;) 2. Long (Orange arrow) Price moves under area 1 but manages to retake it. Enter on retest of area 1. Target: A bit under the range high SL: A bit under area 1 Time duration: Days, weeks, months, years... ;) 1. Short (Red arrow) Price moves under area 1 aswell level 2. Enter on retest of level 2. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above level 2 Time duration: Days, weeks, months, years... ;) 2. Short (Yellow arrow) Price breaks under area 1. Enter in LTF on retest. Target: The next big support level (Also in confluence with the 50% of the lower range. SL: A bit above area 1 Time duration: Days, weeks, months, years... ;) Good luck
CBOT:ZW1!
by a_tale_of_bulls_and_bears