Wheat Futures—Wheat futures in the December contract is trading higher by 8 cents at 4.85 a bushel breaking a 5 day losing streak on optimism of a trade agreement between the United States and Japan which is a bullish fundamental factor towards higher prices in my opinion.
I have been recommending a bullish trade from the 4.82 level & if you took that trade continue to place the stop loss under the May 13th contract low as an exit strategy.
Wheat prices are trading above their 20 day but still below their 100 day moving average as the trend is higher to mixed, however for the bullish momentum to continue prices have to break the September 18th high of 4.92 in my opinion as I would think that the volatility will start to expand as we have now entered autumn.
CHART STRUCTURE: EXCELLENT
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
If you’re looking to open a Trading Account click on this link www.admis.com
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.