Wheat target 955Wheat is forming a bottom , especially in daily a double bottom has already been formed , also a wedge formation is looking really good , waiting for bullish 2024 .
XW1! trade ideas
Short idea on the wheat marketMy current trade idea on the wheat mini futures to short given the strong bearish trend and a bear flag after buyers have failed to keep the buying momentum going even some fundamental issues putting pressure on the wheat market such as a surplus of wheat.
CBOT:ZW1! CBOT_MINI:XW1! AMEX:WEAT
hour ZWZ short below 570 SQ9Day view, hour frame.
Shorting below 570 SQ9 level, only after market open at 15h30 UTC+1 and if below 570 is confirmed.
Reasons:
- on a very wide view, d ZW1 Elliott master trend counting seems to be askng for new lows
back to today ZWZ hour frame:
- we are below Pivot level 579.50
- Yellow asc 1/1 as bull support brokne at friay open, confirmed so far with overnigth session
- Yellow desc 1/1 could be reached today after open at conjunction of other Gann line crosses and SQ9 level of 563.25 which is today conservative short target.
end session ends this proposed idea.
Chicago SRW Wheat Futures: Bullish reversal$ZW_F looks like a possible trend reversal in weekly scale, taking place after holding long term support from where the previous huge rally took off...
Certainly an interesting reward to risk vs probability of success here.
Your risk is a meager 88 ticks to make between 188 and 497 ticks if the setup works.
Best of luck!
Cheers,
Ivan Labrie.
forecasting, ZW/WHEAT , FUTURES in 15 min Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graph
Wheat Short4 hour TrendCloud Crossover
1 hour TrendCloud downtrend
30 min supply zone.
CCI is slightly against us but we are taking a 1% risk on this trade to the downside for a 2:1 target.
WHEAT - interesting situation- Wheat trades below the average price
- War in Ukraine doesn't help, though both sides sell at discounted prices
- Some bulls seem to wander around
- If price breaks up through 581, most likely we will see return to growth.
ZW1! Wheat LongWheat futures have broken out of a falling wedge pattern on positive divergence. The price broke out of the wedge to the upside, then it back-tested the wedge from above, and proceeded to move up aggressively today. This is an objective buy signal.
The most common investment vehicle for this trade is WEAT, an ETN backed by wheat futures.
Wheat price is about to fallWe think upheaval battle for high wheat prices has been lost and investors taking out their capital from long positions.
WHEAT Short From Resistance! Sell!
Hello,Traders!
WHEAT is retesting a broken
Key horizontal level of 580'0
Which is now a resistance
And as wheat is in the
Local downtrend I am
Bearish biased so I will
Be expecting a move down
Sell!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
wheatHi everybody I think you can long wheat little by little it is absorbing me .....
Gooooood Luuuuuuuck
Wheat Most Oversold in a Couple DecadesTime to look for an entry.
Apparently, I need to say more to publish this. Okay, good.
Wheat: Harvest time is coming soon! 🌾🚜The price of wheat is currently moving very much in line with our expectations and will soon reach our turquoise target zone between USX 560.60 and 531.10, where the low of the magenta wave (b) is expected. Then we should finally see a reversal and a broad-based rise to USX 807.25. Should the price fall below this zone, we would not change our scenario significantly, but would only expect a move further towards the magenta target zone.
Wheat Support And Resistance With Anchored VWAPIf I look at a bigger picture chart with a renko brick size of 20 on a daily chart on
ZW1! I am noticing we are at a key level of interest. We are at an area of potential support and if I use an anchored vwap starting as far as I can go back, we are sitting right on the volume weighted average price. Either we rally from here or we really breakdown to test those lower supports. Either way there is something here and I would wait for some sort of confirmation before jumping in.
The Unveiled Power of WheatIntroduction
Ever wondered about the captivating world of commodities? Today we’ll dive into a staple that sustains billions: Wheat.
Wheat has an undeniable influence on global market trends, not just for its widespread consumption but also as an important trading commodity. The prevalence of wheat, in fact, dates back to over 10,000 years when it was first domesticated in the Near East’s Fertile Crescent, making it one of the world's oldest food crops.
Whether you’re an investment novice or a seasoned trader, this Q&A article serves as your comprehensive guide.
Why is Wheat Important
Q: What makes wheat such a significant commodity?
A: Wheat is more than just flour and bread; it’s a cornerstone of global food security. It serves as a primary source of nutrition for a large portion of the global population, thus making its price and supply crucial factors affecting economies worldwide.
Market Dominance
Q: Who holds the reins in the wheat market?
A: Countries like Russia, the U.S., Canada, France, and Ukraine are dominant players, controlling the supply chain and thus significantly impacting global prices. The geopolitical interplay among these giants can influence wheat prices, leading to ripple effects in the global economy.
Inflation: Cause and Effect
Q: How does wheat contribute to inflation?
A: Rising wheat prices can lead to increased food prices, contributing to overall inflation. When inflation is high, the purchasing power of money diminishes, affecting consumer behavior and market dynamics.
Commodity vs. Equity: A Tug-of-War
Q: What’s the relationship between commodities like wheat and equity markets?
A: The relationship between commodities such as wheat and equity markets is multifaceted and complex. In essence, when the commodities market, exemplified here by wheat, experiences an upswing, it can often lead to a relative underperformance or stagnation in equity markets. This phenomenon is primarily due to capital reallocation from equities to commodities as investors and traders seek more promising returns.
Such trends can particularly be observed in periods of geopolitical crisis, such as the Russian-Ukraine war, where commodity prices might soar due to supply disruptions. While the bullish commodities market flourishes amidst such circumstances, equity markets may face headwinds. These movements between the markets reveal the intricate interplay between commodities and equities, shaping the dynamics of global finance as a whole.
The Technical Analysis: What’s Coming Next?
Q: What do independent charts tell us about wheat’s future?
A: Based on Fibonacci retracement levels, wheat prices corrected to around $570 (88.2% Fib level) and will probably make a counter-move this year towards the upward 50% Fib level at $967 or even the 61.8% Fib level at $1060. Following this, we could see the price fall below its current position by 2024, aligning with similar patterns observed in oil and sugar. For the sake of clarity, trend directions in the chart are drawn in larger time values.
ChartScope
Summary and Outlook
• Importance: Wheat serves as a fundamental commodity in global food security.
• Market Dominance: Major players like Russia and the U.S. significantly influence wheat prices.
• Inflation Impact: Rising wheat costs contribute to inflation, affecting consumer behavior and financial markets.
• Commodity vs. Equity: In a bullish wheat market, equities often suffer due to capital reallocation and vice versa.
• Technical Analysis: A potential bullish counter-move could occur in the coming months, followed by a longer-term downtrend.
As we navigate through tumultuous financial waters, keeping an eye on wheat and similar commodities is more crucial than ever. So, as you refine your investment strategies, don’t overlook the grain that has fed civilizations for millennia.
Are Wheat Futures Nearing a Bottom? Wheat futures are higher in today's trade but have been under an enormous amount of pressure since marking a double top back on July 25th. In those following 25 trading sessions wheat fell as much as $1.78 with very few attempts at a relief rally in-between.
Despite the persistent selling pressure, the RSI (relative strength index) never dipped below 30 on the daily chart, which is the line in the sand that most technicians use when referencing “oversold”.
During that time we’ve seen the Managed Money (Funds) net short position grow from 40,332 futures and options contracts to 70,921 futures and options contracts (as of 8.22.23).
It appears that seasonality has outweighed concerns over global production and potential logistical issues. This years price action aligns pretty closely with what we’ve seen on the 10, 15, and 20 year average price charts.
Those seasonal averages suggest that a seasonal low wouldn’t come into play until the first week of September. Looking at a more recent 5-year seasonal average price chart, we see that the wheat market has been fishing for a bottom and consolidating a week or two earlier.
What does it all mean?
I’ve always been a big believer that the bottom is a process and not necessarily a point. With that in mind, that process could be in the process of beginning. A close back above previous support from 608-612 could confirm that bias and encourage further buying via (Fund) short covering or “bargain buyers”. The next upside objective above that pocket would be 641-646.
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
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.
ZW- Wheat Futures Reverse to Upside LONGZW is shown as the December 2023 contracts on the 2H chart have reversed
in the past two days and price has increased over 2% in that interval.
The indicators show a flip in the volatility and a blue bar volume spike
in the reversal. Price is presently about 15% below the double tops and
pivot highs of June and July. Price is presently crossing over the mean
VWAP anchored 7-8 trading days ago and so demonstrating the bullish
momentum of the past couple of days.
I see this as an excellent long trade setup especially suitable to using
leverage in the trade and expect the uptrend to potentially capture
a 7-8% gain in the retracement of the downtrend then amplified by
the leverage applied.
More upside for wheat?Analysis: Price began to turn higher as resistance at 632.0 is broken out of and now a support level. A retest confirmation at the 632 support region can potentially fuel price further towards the upside.
Long opportunity: Retest confirmation at 632 support region towards 644.75 as Take Profit - 1 level.
CBOT WHEAT SEP23 (LONG)Chicago Board of Trade wheat futures dropped on Tuesday amid technical selling and broad weakness in commodity and equity markets.
We can expect that the price is going to make higher high in small timeframe and a short period of time. This is a low-risk trade with good Risk to Reward Ratio.
WHEAT Wheat
Daily
Shorts
We've been short this many times and continue to see more downside pressure. Targets are within the chart bands. Please give this chart a "Boost" and helps us get the word out and better serve you all.
