Wheat is neither good, nor bad.
Currently, it formed a bullish flag on daily, MACD/RSI convergent with price that is going up.
First, breaking into a new 15 day high, above 530 would mean breaking the small wedge and going up.
Breaking the 200 day EMA at 535$ would make wheat go into an uptrend, all the way to 600.
News:
economictimes.indiat...cleshow/47417616.cms
Hedge funds are cutting wheat shorts:
www.agrimoney.com/ne...at-shorts--8374.html
Neutral-long for wheat.
If 535 isn't broken in 2 weeks, price will likely go down.
Currently, it formed a bullish flag on daily, MACD/RSI convergent with price that is going up.
First, breaking into a new 15 day high, above 530 would mean breaking the small wedge and going up.
Breaking the 200 day EMA at 535$ would make wheat go into an uptrend, all the way to 600.
News:
economictimes.indiat...cleshow/47417616.cms
Hedge funds are cutting wheat shorts:
www.agrimoney.com/ne...at-shorts--8374.html
Neutral-long for wheat.
If 535 isn't broken in 2 weeks, price will likely go down.
