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Wheat

WHEAT CONTINUES RALLY2022 is not a typical year for the WHEAT. Not only it is a staple food for a big portion of the population, but after the beginning of the Ukrainian-Russian conflict, the supply of the commodity in Europe and other parts of the world is less than secure. It is expected Russia to use the wheat as a political weapon against countries that oppose its actions. That combined with the inflation the world is currently experiencing can suggest that the price of the commodity will keep rising. Both MACD and RSI are confirming the continuation of the bullish trend. If the rally continues, the price will test its previous high at 1347.19 USD. On the other hand, if predictions do not come to fruition and rally reverses, the price will first test its gap level at 1187.97 and then eventually its previous support at 1028.44 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
WLong
by legacyFXofficial
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise Resistance 1281'6 Pivot: 1240'6 Support : 1216'4 Preferred Case: With price above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1281'6 in line with the horizontal swing high resistance from our pivot at 1240'6 in line with the horizontal swing low support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1216'4 in line with the 50% Fibonacci retracement and horizontal swing low support. Fundamentals: No Major News Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
CBOT:ZW1!Long
by Genesiv
Wheat prices are soaring higher and here is why:As of now wheat was in bull rally, updating new ATH's, since the start of Russia's war against Ukraine. Russia and Ukraine control over 30% of world wheat exports and now Ukraine can't export it's wheat because of navy blockade, and Russia tightens it's wheat export policies planning to use it as a weapon against unfriendly countries later. A couple months ago India announced that it will replace Ukraine and Russia with it's own exports, however Mother Nature didn't like those plans as India soon got hit by anomalous heatwave of 40-45 degrees across whole country. Those, On 14th of May India banned wheat exports as crop predictions got considerably lower. European Wheat futures already updated All-time highs, trading above 430€ and I don't think we are ever close to reaching reversal. From technical standpoint we see triangle and we need to see longer accumulation before breaking current all-time high. What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
CBOT:ZW1!Long
by Artem_Dishel
2
Wheat is soaring higher and will continue to grow. Here's why:As of now wheat was in bull rally, updating new ATH's, since the start of Russia's war against Ukraine. Russia and Ukraine control over 30% of world wheat exports and now Ukraine can't export it's wheat because of navy blockade, and Russia tightens it's wheat export policies planning to use it as a weapon against unfriendly countries later. A couple months ago India announced that it will replace Ukraine and Russia with it's own exports, however Mother Nature didn't like those plans as India soon got hit by anomalous heatwave of 40-45 degrees across whole country. Those, On 14th of May India banned wheat exports as crop predictions got considerably lower. European Wheat futures already updated All-time highs, trading above 430€ and I don't think we are ever close to reaching reversal. From technical standpoint we see triangle and we need more accumulation before breaking current all-time high. What do you think of this idea? What is your opinion? Share it in the comments📄🖌 If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
CBOT:ZW1!Long
by Artem_Dishel
Mar 12 22-Wheat Buy? Will it go to ATH?So is it time to buy? Wheat ended going on a tear today - straight up!! Question is .... for all of you who didn't get in on the profits today, do you get in now and go long? Or do you wait for a Sell Signal and go short? Hard to say - I did make some money today going long, but I TP wayyyyy too early. Anyway, now I'm in the same boat as you guys - get in now or wait? Went up 100 points at the evening open - I shoulda put in a Buy Order right away - missed that one too. Thoughts anyone? Heiko
CBOT:ZW1!
by HEIKOTradingSystem
Wheat Futures ( ZC1! ), H1 Potential for Bullish bounceType : Bullish Bounce Resistance : 1196'4 Pivot: 1154'2 Support : 1132'6 Preferred Case: With price moving above our ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance from our pivot of 1154'2 in line with the 38.2% Fibonacci retracement and and 78.6% Fibonacci project. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the pullback support. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise Resistance 1132'6 Pivot: 1106'4 Support : 1084'4 Preferred Case: With price breaking above the ichimoku cloud and making a new high on the donchian channel, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance and 100% Fibonacci projection from our pivot in line with the pullback support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the 50% Fibonacci retracement. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise Resistance 1132'6 Pivot: 1084'2 Support : 1068'2 Preferred Case: With price bouncing off the ichimoku cloud support, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance from our pivot in line with the horizontal swing low support and 50% Fibonacci retracement. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the 61.8% Fibonacci retracement. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Futures ( ZS1! ), H1 Bullish rise!Type : Bullish rise Resistance 1143'0 Pivot: 1123'0 Support : 1105'2 Preferred Case: With price moving above the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the 161.8% Fibonacci extension from our pivot in line with the horizontal pullback support and 23.6% Fibonacci retracement. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the 61.8% Fibonacci retracement. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Futures ( ZW1! ), H1 Potential for Bearish ContinuationType : Bearish Continuation Resistance : 11122'2 Pivot: 1105'2 Support : 1080'4 Preferred Case: With the MACD indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 50% Fibonacci retracement and horizontal pullback support from our pivot of 1105'2 in line with the 23.6% Fibonacci retracement and the horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the 127.2% Fibonacci extension and horizontal swing high resistance. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
THREAD #3 : Commodities Update ‼️I know it took time to get this thread update, I'm sorry for that, but here it is ! ▶️ How it works ? Ask me in comment my chart analysis of the asset you want if it didn't have already done under. If I find something intersting to say and show, I will update the idea with it. A comment of each asset expose will be post under, come react about it or debate. ▶️ Before to start I want to remind that we are in a period of conflict and news can emerge at any moment with strong effect and reaction on market. So invest carefully on this hard times and reduce your loss exposition on market when you can. Don't forget to take profit too. CRUDE OIL ✅ One of my perspectives in the last update was to see price going to the A line before to fall back rapidly, we falled but we can see we stopped just before the resistance. Precision of the market is remarquable so I keep this target in mind to get reach it in the future. For the moment we can expect a return on the 2b line, constructing a channel, even if the exact channel would be to target 3b but it can be an exageration of the market. Like each commodities update, I remind that it's a highly manipulated asset so, or stay away of it, or be very careful of your loss exposure. GOLD ✅ "The chart don't have change since the commodities update of the 20th of January. We are coming to the end of the bull scenario. I invit to take profits on the conjoncture of the resistance area and the (2c) resistance. There is no interest to sell a refuge asset like gold, even more in this time of conflict. So if there is selling signals take it like an opportunity to buy it lower. Especially here, we will wait for buying signals on the (1b) or (1a) support and the best case would be the support area of $1,700 - $1,675 but far from now." This was my exact words two months ago, I think there is nothing to add because it's exactly what is happenning. We've seen a buying pressure on (1b) but without buying volume, so no reason to buy, now we are going for the next area : the (1a) support. Wait signals, if there isn't on (1a), wait the support. SILVER ✅ Like for the gold : "I don't expect a breakout of (1b) and the resistance area, so for me we will see the construction of a range between them around $27 and $29. The biggest probability for me is a bull outcome of the range to target the (1c) resistance (scenario A) and probably more after. If we reject the resistance strongly after lateralization I expect price to go deeply retest the (1a) support around $20." Very close again from the reality, in fact, we ranged (2$ lower from my expectations). Unfortunetly we didn't got the bull outcome and strongly rejected on supply. Like expected a deep retest to the supports. Speaking of now, the close of tonight is really important cause we broke the 2b support and reacted with buying pressure on support area. If we close tonight back inside the channel (upper of (2b)), we could expect a reintegration and so with buying volume tomorrow, a confirmation of it. Else we could expect a simple pullback on the broken support (which mean short opportunities on lower timeframe) to go back lower to the expected bear scenario of 2 month ago, the $20 area. Furthermore we can see a stop hunt pattern taking place on support, nice setup to see climax. COPPER ✅ Copper have been one of the assets that I most spoke. Because of the Wyckoff Reaccumulation pattern we had, and which brought signals and targets. The last update was the failed SOS, closing the long position because of the expectation to see a pullback to the support. In fact we are going for it, we are always in between so expectations didn't changed. We will see on support if we have long signals to exploit. Maybe we could build a bigger Wyckoff pattern (reaccumulation or distribution), in this case it would be really interesting because we could exploit as long and short signals around, respectively, support and resistance. PLATINUM ✅ Very similar as silver we can observe the sames patterns, sames signals. So no much things to add, if we reintegrate we can exploit pullback on (2b), else we wait opportunity given by stop hunt to take a deeper position around $840 or $760. PALLADIUM ✅ "We made an SOS which has also failed. So technically, the biggest probability is to see it go down on the (2b) line in a first time (scenario A) maybe more with (1a) before to retest the resistance (1b)." Nothing more to add again, the plan continue to go in the right way. We are ranging around (2b), no signal for the moment so we can expect a continuation to (1a) (SCENARIO A) but it's important to stay aware about the possibility to see a Wyckoff acummulation here (SCENARIO B), no signal of it for the moment. WHEAT & CORN ✅ The master word on the last update on wheat was to take profit on ATH because of the expectation of a strong selling pressure like oil, in fact it happened. We already made half of the job to go back to the last resistance being broke. Wait signals around here to target a retest of ATH. Else each broken resistance become a nice spot to target entry. Corn is similar to it. For both, with the macroeconomic context we can expect retests of ATH. In all case stay careful, it stay heavily influenced by the macroeconomic dynamics so from news also. SUGAR ✅ A nice way to finish is to speak from the plan we had in the last update and which succeed ! We had a Wyckoff Reaccumulation Pattern, it was EXACTLY the same setup as the one on the copper which also succeed. The spot to survey was the pullback on the creek, entry signal was perfect on H4 timeframe. Target on 2:1 ratio, then second target on resistance level, then exit because of the failed SOS. It was a nice setup shared it and I'm happy of that. Let's speak of future expectation now, it's really close to the copper analysis. We will see if we could build a bigger pattern, in this case everything is exploitable ON SIGNALS always! Furthermore we stay in a monthly interest area where as Wyckoff Reaccumulation and Wyckoff Distrubution pattern could bring to a big movement. So it will be an asset to look closely on in the future. 🛑"Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions"🛑 👉 Like, follow or comment* if you like, I need it to continue ! *Speaking of comments, come ask questions, come share your point of view, come debate, I need to feel that my without counterpart work is usefull for some !
NYMEX:CL1!
by Kentg
18
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise Resistance : 1105'2 Pivot: 1081'4 Support : 1065 Preferred Case: With price moving above the ichimoku cloud and and the recent break of the descending trendline which signifies bullish momentum, we have a bullish bias that price will rise to our 1st resistance in line with the 1105'2 in line with the 61.8% Fibonacci retracement and swing high resistance from our pivot of 1081'4 in line with the 61.8% Fibonacci retracement and the horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1065 in line with the 50% Fibonacci retracement and the horizontal pullback support. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Futures ( ZW1! ), H1 Bearish dip!Type : Bearish drop Resistance : 1105'2 Pivot: 1080'2 Support : 1042'4 Preferred Case: With price expected to reverse off the stochastics indicator, we see a potential bearish continuation from our pivot level of 1080'2 which is in line with 61.8% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1042'4 which is in line with the horizontal swing low support and 61.8% Fibonacci projection. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance level of 1105'2 in line with 61.8% Fibonacci retracement and horizontal pullback resistance. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Why has the Russian ruble not collapsed yet? Russia’s efforts to prop up the ruble appears to be working despite sanctions imposed by Western countries aimed at cutting the Kremlin’s access to external resources and crippling the nation’s ability to fund its war against Ukraine.   Last week, the ruble surged to a more than two-year high against the euro and the US dollar, recouping its losses during the war. The rally was triggered by Russia’s last-ditch attempt to avoid defaulting on a eurobond on Friday.   Russia’s finance ministry paid $564.8 million in interest on a 2022 eurobond and $84.4 million on another 2042 bond, the ministry said Friday. Both payments were made in US dollars, marking a reversal from its previous threat to pay its debts in rubles.   To begin this week, the ruble has continued its strong performance, with the USDRUB down almost 3%. As it stands, Rubles are exchanging hands at less than 69 per USD. Rating cut to selective default Prior to the payment of these bonds, Russia had earlier paid its dollar-denominated bonds in rubles, triggering a rating downgrade by S&P Global Ratings to “selective default.”   The rating agency said investors won’t likely be able to convert those payments into dollars equivalent to the amount due as sanctions on Russia are predicted to worsen in the coming weeks.     Gas for ruble In a bid to bolster the ruble and retaliate against Western sanctions, Russia, one of the top oil-producing countries worldwide, required “unfriendly” buyers of the country’s natural gas to pay in rubles. While many European Union leaders were quick to reject the Kremlin’s demands, one of Germany’s biggest energy companies, Uniper, said it was ready to buy Russian gas by converting its euro payments into roubles.   "We consider a payment conversion compliant with sanctions law and the Russian decree to be possible," a spokesman was quoted by BBC as saying recently, adding that the absence of Russian gas “would have dramatic consequences for our economy.”   Russian national energy giant Gazprom recently cut off its gas supplies to Poland and Bulgaria due to their refusal to pay in rubles.   Commodity powerhouse Many countries’ reliance on Russian oil and other commodities like wheat has helped the ruble avoid collapse and may play a role in supporting the currency moving forward.   Vyacheslav Volodin, a top Russian lawmaker, over a month ago said Russia should demand ruble payments for other commodities like wheat, fertilizer, and lumber, adding that Western governments have to pay for their decisions to sanction Russia.  
U
by BlackBull_Markets
4