SIGNAL TERMINATED – WHEAT LONG – TAKE PROFIT
The analysis of the rise in the price of wheat from 20/12/7 is profitable, but with only about 8% yield. Today’s reaction of traders, however, does not meet the premise. CAs are now withdrawing from this prediction at market price.
ORIGINAL TEXT: Wheat Long. The current contract for wheat traded on CBOT or CFD has reached the limit of 50% Fibonnaci retracement. The technical and fundamental situation this week should move the market back to values around 600 cents per bushel, or USD for CFDs. Friday’s statement by COT after a thorough balance sheet suggests a possible rise in price once again.
Chart source: WebTrader