✅WHEAT GLOBAL SHORTAGE|LONG🚀
✅WHEAT fell down sharply
But a strong support level was hit
Thus as a rebound is already happening
A move up towards the target shall follow
LONG🚀
✅Like and subscribe to never miss a new idea!✅
XW1! trade ideas
WHEAT FUTURES (ZW1!), H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 1103'6
Pivot: 1084'0
Support : 1072'4
Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 1084'0 where the overlap support and 23.6% fibonacci retracement are to the 1st resistance at 1103'6 in line with the overlap resistance, 78.6% fibonacci projection and 127.2% fibonacci extension .
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 1072'4 in line with the overlap support and 38.2% fibonacci retracement.
Fundamentals: Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for wheat .
Wheat: More of the Same, Trading in a RangeWheat
Fundamentals: This morning’s weekly export sales report showed net sales of 236,900 metric tons (MT) for 2022/2023.
Technicals: Wheat futures were able to defend technical support yesterday, we’ve had that defined as 1027 ¼-1034 ¼. If you’re Bullish, this is a spot to consider buying against as the risk is fairly well defined. If we break and close below that pocket, that would be your sign to take the L and move on. If the Bulls are able to continue defending that pocket, we could see a retest of our pivot pocket, 1095-1102.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****, 982**, 967 1/4**
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Analysis-downtrendHere, we will have a big probability of a downtrend as you see on the chart.thanks.
Wheat Futures Test Significant Support
Wheat
Technicals: Wheat futures came within a stone's throw of 4-star support overnight, we've had that labeled as 1027 1/4-1034 1/4, the low was 1036 1/2. If you're Bullish (we aren't) that is a good spot to consider buying as the risk is fairly well defined. A break and close below that pocket could open the door for a break back below $10.00 and below, with the next significant support coming in closer to 975.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****, 982**, 967 1/4**
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Daily Wheat Market Update (6.14.22)Wheat
Technicals (July): More of the same for wheat, as we continue to trade in a range, albeit a wide range. Wheat futures continue to chop around from about 1030 on the low end and 1100 on the high end. A breakout or breakdown from these levels could pop or drop the market 50 cents relatively quickly. Our bias is Neutral at the moment, but we would be looking to be lean bearish at higher levels. When we say higher levels, we are talking about a retracement of the May 31st breakdown point near 1150.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Wheat Futures, the Modern Day Yo-YoWheat
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 2,905 futures/options contracts, through June 7th. This shrinks their net long position to 13,774. Broken down, that is 82,385 longs VS 68,611 shorts.
Technicals: Wheat futures continue to chop around in a wide range, from about 1030 on the low end and 1100 on the high end. A breakout or breakdown from these levels could pop or drop the market 50 cents relatively quickly. Our bias is Neutral at the moment, but we would be looking to be lean bearish at higher levels. When we say higher levels, we are talking about a retracement of the May 31st breakdown point near 1150.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Technical Update Wheat (6.8.22)Wheat
Technicals: July wheat futures have been the laggard of the big-3, treading near the lower end of the last month’s range. Our pivot pocket from 1095-1102 remains intact. This pocket is not only psychologically significant, but also technically significant with the 50-day moving average coming in at 1099 ¾, along with other previously important price points. If wheat can tag along with corn and beans and breakout above that first hurdle, it could take prices back near first resistance, 1142 ¾-1150.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****
Wheat Stalls Out at Psychological ResistanceWheat
Fundamentals: Yesterday’s Crop Progress report showed spring wheat is 82% planted, 4% behind the average estimate. 55% of the crop is emerged. Spring wheat harvest is estimated to be 5% complete. Good to excellent ratings remain steady around 30%.
Technicals (July): July wheat futures are the weak link in the early morning trade as the market struggles to get back out above our pivot pocket from 1095-1102. If the Bulls can chew through that pocket with conviction, it could lead to an extension and retracement of the May 31st breakdown point, closer to 1142 ¾-1150. A failure at the pivot pocket would mark a lower high and potentially take us to a lower low, below 1027 ¼.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****
wheat & oil, 50 years channelIf you have access to historical data, you see correlation in commodities macro trends and especially same time cycles.
this chart is a small sample (which now affects the whole world) and we see same channel, same time sycle, same macro trends and same target for this trend...
WHEAT FUTURESWheat custom is a very strong sharp descent and it can bounce back from the very strong demand area.
Wheat Futures Are at An Inflection PointWheat
Fundamentals: This morning’s weekly export sales report showed net sales 700 metric tons (MT) for 2021/2022 were down noticeably from the previous week and down 98 percent from the prior 4-week average. Net sales of 363,500 MT for 2022/2023.
Technicals: Wheat futures were able to stage a recover rally yesterday, albeit a relatively tiny one relative to the sharp move lower we saw in the prior two sessions. The Bears have the technical advantage, but a bigger recovery rally towards 1095-1102 cannot be ruled out. As mentioned, a million and one times over the last several weeks, we expect the volatility to continue so be sure to manage your risk.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 1142 ¾-1150***, 1200-1205 ¼**
Pivot: 1095-1102
Support: 1027 ¼-1034 ¼****
Wheat Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
Wheat Futures ( ZW1! ), H1 Bearish ContinuationType : Bearish Momentum
Resistance : 1085'2
Pivot: 1065'2
Support : 1027'0
Preferred Case: On the H1, price is moving below the ichimoku cloud which supports bearish bias that price will drop from our pivot at 1065'2 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 1027'0 in line with the swing low support.
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1085'2 in line with the overlap resistance, 23.6% fibonnaci retracement, 38.2% fibonacci retracement and 100% fibonacci projection.
Fundamentals: Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for wheat.
My current intraday short strategiesespecially when confirmed on the daily chart I like to trade short on the 1 or 2 hour chart
WHEAT
NASDAQ
BTC
CRUDE OIL
30 YEAR BONDS
notice with the filter to only enter trades above 18 SMA only the high profit signals are in play.
basic rules to go short below the bar that broke prior days high or low and to trail the exit stop above prior days high
apply
WHEAT FUTURES (ZW1!), H1 Potential for Bearish bounceType : Bearish Continuation
Resistance : 1170'2
Pivot: 1159'0
Support : 1121'4
Preferred Case: With RSI moving in a downtrend momentum and price reversing off the ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 1121'4 in line with the 78.6% fibonacci projection and horizontal overlap support from our pivot at 1159'0 in line with the horizontal swing high resistance.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance at 1170'2 in line with the pullback resistance, 38.2% fibonacci retracement and 61.8% fibonacci retracement.
Fundamentals: No Major News
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise
Resistance 1218'0
Pivot: 1182'4
Support : 1164'6
Preferred Case: With MACD following a bullish momentum and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 1218'0 in line with the horizontal overlap resistance and 38.2% Fibonacci retracement from our pivot at 1182'4 in line with the overlap support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1164'6 in line with the 61.8% Fibonacci retracement and horizontal swing low support.
Fundamentals: No Major News
Wheat bearish next few weeksHi everyone, Analyzing Wheat price movement resulted in high probability of bearish run in the next few weeks.
DeGRAM | Wheat buy opportunityThe price of wheat rapidly rose and is currently pulling back to previous support levels.
A pullback creates an ideal opportunity to buy, considering fundamental factors.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
Wheat Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
WHEAT FUTURESStrong penetration of the drawn price channel and good re-testing can continue to climb to the old peaks
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise
Resistance 1281'6
Pivot: 1240'6
Support : 1216'4
Preferred Case: With price above the ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1281'6 in line with the horizontal swing high resistance from our pivot at 1240'6 in line with the horizontal swing low support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1216'4 in line with the 50% Fibonacci retracement and horizontal swing low support.
Fundamentals: No Major News
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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
