Wheat (ZW)’s massive 5% or so gap up to start the week has further extended the Bull Flag (on the weekly chart), with ZW nearing the 2022 high. Nevertheless, with a Doji forming on the 4hr, daily and weekly chart, ZW is unlikely to have much further upside this week…
Wheat (ZW)’s Bull Flag consolidation (or daily chart triangle) since early March is in its advanced stages, with ZW nearing the April high. Any break above the daily chart triangle resistance and April high will likely have to wait until after the highly anticipated May 12th WASDE release…
Wheat (ZW)’s Bull Flag consolidation (or daily chart triangle) since early March is once again deepening, with ZW nearing the April low. Nevertheless, any strong bounce off downchannel support (on the 4hr chart) will likely coincide with a break above the daily chart triangle resistance…
Wheat (ZW)’s 6 week plus Bull Flag consolidation (or daily chart triangle) is at risk of deepening as ZW tests a 2 month or so uptrend support (on the weekly chart). Any break below the daily chart triangle support will dramatically increase the odds of ZW testing the 50% Fib retrace of the war surge, and the psychologically key 1000 whole figure level…
Wheat (ZW) is pushing higher to start the week, appearing poised to complete a 5 week plus Bull Flag consolidation (or daily chart triangle). Interestingly, the correction from the March high was halted near the 50% Fib retrace of the war surge, just below the psychologically key 1000 whole figure level…
Wheat (ZW) rallied in today’s Asia morning to start the week, halting the month plus slide from the 2022 high. Significantly, ZW has reclaimed the 50% Fib retrace of the war surge after strongly bouncing off from the psychologically key 1000 whole figure level…
Wheat (ZW) is trying to firm to start the week, showing early signs of trying to halt the near month long slide from the 2022 high. Significantly, ZW is testing the 61.8% Fib retrace of the war surge, and appears to be trying to reclaim the psychologically key 1000 whole figure level…
Wheat (ZW) is sliding towards the low end of the roughly 3 week consolidation to start the week. Significantly, ZW appears vulnerable before month end to a test of the 50% Fib retrace of the February to March rally extension, with a moderate probability of testing the psychologically key 1000 whole figure level during the same period…
Wheat (ZW) is consolidating to start the week, trying to halt the strong slide since Tuesday’s 2022 and record high. Significantly, although ZW is suddenly testing the 38.2% Fib retrace of the February to March rally extension, ZW appears vulnerable this week to further profittaking towards the psychologically key 1000 whole figure level…
Wheat (ZW) has gapped up and opened limit up to start the week (on a continued escalation in the Ukraine-Russia conflict), breaking above uptrend/ascending wedge resistance (on the 4hr chart). Significantly, ZW is just shy of the record high in 2008, and is vulnerable to strong profittaking once it tags this key resistance level…
