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ZW1! trade ideas

Technical Update Wheat (6.8.22)Wheat Technicals: July wheat futures have been the laggard of the big-3, treading near the lower end of the last month’s range. Our pivot pocket from 1095-1102 remains intact. This pocket is not only psychologically significant, but also technically significant with the 50-day moving average coming in at 1099 ¾, along with other previously important price points. If wheat can tag along with corn and beans and breakout above that first hurdle, it could take prices back near first resistance, 1142 ¾-1150. Bias: Neutral Previous Session Bias: Neutral Resistance: 1142 ¾-1150***, 1200-1205 ¼** Pivot: 1095-1102 Support: 1027 ¼-1034 ¼****
CBOT:ZW1!
by OliverSloup_BlueLine
Wheat Stalls Out at Psychological ResistanceWheat Fundamentals: Yesterday’s Crop Progress report showed spring wheat is 82% planted, 4% behind the average estimate. 55% of the crop is emerged. Spring wheat harvest is estimated to be 5% complete. Good to excellent ratings remain steady around 30%. Technicals (July): July wheat futures are the weak link in the early morning trade as the market struggles to get back out above our pivot pocket from 1095-1102. If the Bulls can chew through that pocket with conviction, it could lead to an extension and retracement of the May 31st breakdown point, closer to 1142 ¾-1150. A failure at the pivot pocket would mark a lower high and potentially take us to a lower low, below 1027 ¼. Bias: Neutral Previous Session Bias: Neutral Resistance: 1142 ¾-1150***, 1200-1205 ¼** Pivot: 1095-1102 Support: 1027 ¼-1034 ¼****
CBOT:ZWN2022
by OliverSloup_BlueLine
Wheat Futures Are at An Inflection PointWheat Fundamentals: This morning’s weekly export sales report showed net sales 700 metric tons (MT) for 2021/2022 were down noticeably from the previous week and down 98 percent from the prior 4-week average. Net sales of 363,500 MT for 2022/2023. Technicals: Wheat futures were able to stage a recover rally yesterday, albeit a relatively tiny one relative to the sharp move lower we saw in the prior two sessions. The Bears have the technical advantage, but a bigger recovery rally towards 1095-1102 cannot be ruled out. As mentioned, a million and one times over the last several weeks, we expect the volatility to continue so be sure to manage your risk. Bias: Neutral Previous Session Bias: Neutral Resistance: 1142 ¾-1150***, 1200-1205 ¼** Pivot: 1095-1102 Support: 1027 ¼-1034 ¼****
CBOT:ZWN2022
by OliverSloup_BlueLine
Wheat Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
CBOT:ZW1!
by Sunstorminvest
Wheat Futures ( ZW1! ), H1 Bearish ContinuationType : Bearish Momentum Resistance : 1085'2 Pivot: 1065'2 Support : 1027'0 Preferred Case: On the H1, price is moving below the ichimoku cloud which supports bearish bias that price will drop from our pivot at 1065'2 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 1027'0 in line with the swing low support. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1085'2 in line with the overlap resistance, 23.6% fibonnaci retracement, 38.2% fibonacci retracement and 100% fibonacci projection. Fundamentals: Since both countries, Russia and Ukraine, are major exporter of agriculture goods and their persistent war will lead to a shortage of agricultural goods and give us a bullish bias for wheat.
CBOT:ZW1!Short
by Genesiv
WHEAT FUTURES (ZW1!), H1 Potential for Bearish bounceType : Bearish Continuation Resistance : 1170'2 Pivot: 1159'0 Support : 1121'4 Preferred Case: With RSI moving in a downtrend momentum and price reversing off the ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 1121'4 in line with the 78.6% fibonacci projection and horizontal overlap support from our pivot at 1159'0 in line with the horizontal swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance at 1170'2 in line with the pullback resistance, 38.2% fibonacci retracement and 61.8% fibonacci retracement. Fundamentals: No Major News
CBOT:ZW1!Short
by Genesiv
Wheat Futures ( ZW1! ), H1 Bullish rise!Type : Bullish rise Resistance 1218'0 Pivot: 1182'4 Support : 1164'6 Preferred Case: With MACD following a bullish momentum and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 1218'0 in line with the horizontal overlap resistance and 38.2% Fibonacci retracement from our pivot at 1182'4 in line with the overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 1164'6 in line with the 61.8% Fibonacci retracement and horizontal swing low support. Fundamentals: No Major News
CBOT:ZW1!Long
by Genesiv
Wheat Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
CBOT:ZW1!
by Sunstorminvest
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 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