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SlaviToskov

Wheat - Time for a choice

Short
Wheat Futures (CBOT:ZW1!)  
SlaviToskov Updated   
CBOT:ZW1!   Wheat Futures
Trend Analysis Wheat WHEATUSD
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trendanalysis wheat wheatusd
Wheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting:

  • Weekly MA 20 just above 525 with negative direction
    Daily MA 50 just above 525 with negative direction
    We are in decline on the monthly charts
    1H, 2H and 4H chart overbought


Sell at 525 $
SL - 530
Target 485 $
Timeframe 2 weeks!
Trade closed: target reached:
Now we go up!
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