Wheat (ZW) is showing a bit of fatigue to start the week, consolidating with a bit more upside before bumping into uptrend resistance (on the 4hr chart). Significantly, regardless of any healthy profittaking in the next day or so, ZW closed October at the month high, and appears to be gravitating towards the 2021 high…
Tag: Corn
Nasdaq100 (NQ) Nears Record High
The Nasdaq100 (NQ) surged 1% yesterday, and is now just shy of the record high formed in September. Significantly, NQ’s bounce since its early October low has reversed most of September’s slide, with odds high for NQ to follow the S&P500 (ES) in hitting a new record by month end…
Wheat (ZW) Breaks Daily Chart Triangle Resistance to October High
Wheat (ZW) is extending Friday’s gains to start the week, breaking above triangle resistance (on the daily chart). Significantly, ZW is now testing the October high, and appears to be gaining in upward momentum, gravitating towards the 2021 high in what is arguably a major upchannel (on the weekly chart)…
Wheat (ZW) Retesting 38.2% Fib retrace of Jul-Aug rally
Wheat (ZW) is consolidating to start the week, digesting the bounce off last week’s weekly Doji low. Significantly, ZW is likely to edge towards triangle resistance (on the daily and weekly chart) this week, buoyed by the break above downtrend resistance (on the 4hr chart)…
Wheat (ZW) Weekly MACD Positively Crossing
Wheat (ZW) is trying to firm to start the week, continuing last week’s consolidation from the October high. Significantly, with the highly anticipated WASDE released Tuesday, traders are best prepared for a surge in the hour after the WASDE to a fresh October high or a slide back to the September low…
Wheat (ZW) Consolidating Near 2021 High
Wheat (ZW) is consolidating to start the week, digesting Friday’s massive 4% plus gains. Significantly, ZW bounced last week from the psychologically key 700 whole figure level, and is suddenly just shy of the 2021 high…
Wheat (ZW) Retesting 50% Fib Retrace of Jul-Aug Rally
Wheat (ZW) is a bit wobbly to start the week, consolidating the mid last week bounce around a downtrend resistance (on the daily chart) connecting the August and early September highs. Significantly, ZW is retesting the 50% Fib retrace of the July to August rally, and appears to want to consolidate further around the psychologically key 700 whole figure level…
Soybean (ZS) Daily MACD Tries Positively Crossing
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Wheat (ZW) Bounces Off Just Above 50% Fib Retrace of Jul-Aug Rally
Wheat (ZW) firmed going into the US Labor Day holiday long weekend, bouncing off downchannel support (on the 4hr chart). Significantly, ZW has held the 38.2% Fib retrace of the July to August rally in the last 3 weeks of consolidation, and does not appear to be at the beginning of a Double Top (on the weekly chart) with the August high slightly above the May high…
Wheat (ZW) Tries Bouncing Off Daily Chart Upchannel Support
Wheat (ZW) is trying to firm to start the week, continuing last week’s effort to bounce off the 38.2% Fib retrace of the July to August rally. Significantly, ZW appears to be in the middle innings of an orderly consolidation as opposed to the beginning of a Double Top (on the weekly chart) with the August high only slightly above the May high…