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Hardredwinterwheat

Hard Red Winter Wheat: Sell Opportunity on the 1W Resistance.The price is testing the 499'4 1W Resistance after a prolonged rise since the rebound on the 380'4 1W Support. We've made a Double Top on the 1D chart which remains bullish (RSI = 65.798, MACD = 12.030, ADX = 55.290, Highs/Lows = 2.8750). However MACD is forming a top on a bearish reversal pattern. We are expecting a strong rejection after that Double Top and our Target Zone is 393'2 - 380'4. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CBOT:KE1!Short
by InvestingScope
Hard Red Winter Wheat: Medium term Sideways Signal.Hard Red Winter Wheat is trading within a Descending Triangle on 1M (RSI = 40.777, MACD = -11.870, Highs/Lows = -63.0357). This month has rebounded on the 382 1W Support marking the 3rd time it bounced on that level since May, practically making a technical Triple Bottom. As seen on the chart it appears to be replicating the July 2018 - January 2019 pattern, when then price after a Lower High within the 1M Descending Triangle, it declined and consolidated before eventually making the bottom on the 382 1W Support. As a result we have calculated a trading range within 382 - 417 that may last until late November. This can be a very profitable medium term scalp opportunity. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
CBOT:KE1!
by InvestingScope