The chart is pretty clear, if we look at the previous wedges we see that they finished with an intense breakout. A wedge has been on its way for nearly 3 years and the current phase in yellow rectangle is similar to the 2010 price action: touch of upper trend then a decay with resistance in the middle of the wedge before the breakout.
Note the long term supportive area under 430.
Will it happen again or not? Of course I don't know, and to be honest the fundamentals are not really pointing towards a bullish price with higher crops, pressure on prices and increasing stocks.
agrimoney.com/news/us-corn-wheat-stocks-to-grow---but-soy-supplies-to-ease--9355.html
Note the long term supportive area under 430.
Will it happen again or not? Of course I don't know, and to be honest the fundamentals are not really pointing towards a bullish price with higher crops, pressure on prices and increasing stocks.
agrimoney.com/news/us-corn-wheat-stocks-to-grow---but-soy-supplies-to-ease--9355.html
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Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.