A Seasonal Swing Trade Analysis on the Wheat Market
“Hope everyone is having a great week. Today we’re taking a look at the seasonal wheat market. Specifically the September contract.
The video addresses primarily the daily chart on wheat because this is a market we’ve been watching for several weeks now and recently it has started to peak our interest going into last Friday’s USDA report.
As you will see, the charts formed a nice 1-2-3 pattern which was then affected on Friday by a catalyst event which sent prices down. On Monday however, the market came back up and retested that breakout level.
Ultimately we want to see a retest and then look for further continuation to meet its profit objective.
Setups like this are very mechanical and that is what a lot of investors love to see, in fact that is really what we look for to take the emotion out of the trade.
The risk is very clear on this one…”
Watch the full video for the entire technical analysis on the seasonal wheat market. Plus, see what Silas Peters is predicting for the future of Wheat prices.
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