Agricultural Commodities
Is Wheat Ready to Rock?OANDA:WHEATUSD recently hit a high around the $7.16USD area and has been in a small downtrend since. It looks like it may be ready to head back upwards and test resistance again after a nice bounce off of support.
Entering around the $7 mark would give us about a 2.37% retrace up to resistance and would be a perfect bounce off of the 0.5 fib.
RSI on the 30 minute and 4 hour charts both look like they are in a position to support this move. Stoch RSI also appears to be in a spot to “roll over” on both time frames mentioned.
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Coffee Re-accumulation! Hello my beauties.
The chart of coffee suggests a violent bullish breakout of a multi-year downward trendline. The price will probably continue its uptrend, but it is now signalling the beginning of a phase of re-accumulation; the price has reacted strongly with a sudden move to the downside that has stunned the price sideways. I will wait for further development to make sure the schematics play out as expected. I will wait for the price to breach the range in red to the downside, only to quickly recover within the range itself; the successful retest of the bottom of the range would be my buy signal before the uptrend continuation.
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Luca, TrickleDownFX
Wheat Futures: Likely to Rally?Anticipating higher prices for Wheat Futures
Commercials are net long, and market structure is favoring higher prices.
COFFEE WK1: 100% Gains SWING setup BUY/HOLD(NEW)(SL/TP)Why get subbed to me on Tradingview?
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COFFEE WK2: 100% Gains SWING setup BUY/HOLD(NEW)(SL/TP)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: COFFEE WK2 chart review
::: chart is LOG SCALE
::: setup still valid expecting
::: 100% gains final TP BULLS
::: global inflation driving prices
::: also global warming heavy impact
::: cycle high for the market is near
::: 300/320 USD BULLS control the market
::: 12/24 months as global economy
::: is starting the recovery right now
::: BULLISH CYCLE is ON BUY DIPS
::: BUY/HOLD get paid / swing trade setup
::: BUY ANY DIPS / final TP bulls is 175 USD/ bbl
::: 100% upside from current market price
::: WAIT for dips and reload (BULLS)
::: recommend to BUY/HOLD
::: recommended strategy: BUY/HOLD
::: bullish super cycle in coffee market
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 100USD fresh demand zone
::: 300USD fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BULLS / MORE GAINS
::: Sentiment outlook mid-term: BULLS / SUPER CYCLE
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Good profit since my last idea from level 92$Yesterday I posted an idea about cotton(short lower 92) and it goes down 3,5% .Reason for short have 3 main things :
1.Key level 92$ from D1 timeframe.
2.Instrument closed close to our level.
3.Clean area below our level.
With risk 20 cents it gave us 3 dollars profit.
Personally, I did not go into this tool becouse my login model was not there.
The main task is to determine the direction of movement,and we did it :)
CORN possible moveNothing to say everything is clear
corn market may have a different technical behavior, lets see
Cotton.Short lower level 92$Global trend long, local trend short.We have key level 92$.Price cinfirm this level few times so we know-there are some bulls and lower this level they have stop losses.When price will broke this level I expect thet bulls will close their long possision and bears will open short possision so we should get some impuls down.With entrens be attention with next things :
1.Open possision only with low volatility.
2.Stopp loss not more then 20 cents.
Keep in mind that Cotton have some support level on 91$ so cover part of your possision few cent before this level :)
Sugar 1-day classic patternsQ: What has the highest probability of occurring?
There are bearish pattern failures followed by bullish pattern validations into an uptrend.
There are 2 classic patterns 1 is validated the other has not validated.
The cup & handle is in breakout and is approaching its target.
The pattern projects $0.2175 per pound as the target.
The bull flag is not validated.
This pattern projects $0.2200 per pound as the target.
Objectively $0.20 per pound is a psychological resistance level. The price for a pound of sugar has increased and the breakout from bullish patterns coinciding with the failure of bearish patterns reflect this. Volatility is declining and the rate of change has dropped below 0. Declining fear and a break in the trend's momentum.
Since the cup and handle has validated the bias is for long positions. Confirmation of the bull flag provides a starting point for trend continuation.
Soybean look for Long position Looking for Long position at price 12.850-12.876 with target 13.014 & 13.144 in extension.
TAYOR
Short-trend in CORNIt seems like a bearish flag pattern, which is building up in the Corn futures. So this could result in another short-term bearish impulse.
According to the seasonality charts we have at the end of Sep/Oct (depends on which charts you take into consideration) a seasonal low. According to the CME, it's not expected before Nov/Dec (New Crop months).
My personal long-term view on the agriculture commodities is of course very bullish - but we can go still one level lower over the next months ...
Expect the price of your cup of coffee to increase. We have both technical and fundamental justifications as to why coffee is the next inflationary trade to jump into.
With supply chain issues and the seasonal changes in Brazil affecting coffee production and shipping, we can expect the value of the black breakfast gold to rise. Latin American coffee farmers are also reported to have gone on strike in the last few months to demand better prices for their produce as they are barely turning a profit.
Technical wise, the symmetrical triangle break shows us the fundamentals are playing out on the charts.
