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The Golden Bull in Grains- Spring Wheat


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For a bull sighting see the monthly chart below as we see something we have not seen in 4 years, price action is once again trading above the 50 period moving average, putting what I believe in play is price action between 750-800 in play.

While June's WASDE was bearish wheat this week's US Crop Progress was bullish, especially Spring Wheat. And technically speaking the bull started back in May on the 18-19. Crop Progress showed in the 6 states that planted 99% of Spring Wheat in 2016, that condition went from 11 percent very poor or poor the previous week to 20 percent very poor or poor this past week. We also saw the monthly Wheat Data report from the USDA this week which was also bearish Spring Wheat with a drop in acreage and production.

On the weekly chart below you can see the strong bull move made by big money since the first week of May and another strong bull was seen the first week of June as big money is bullish Spring Wheat. The weekly chart tells it all as far as where price is headed. Click here to get your own copy of my book -What Lies Beneath ALL Trends - that will show you exactly how to use the newer Commitments of Traders Reports from the CFTC. Notice 550 on the weekly chart.

On the July 2017 Daily Chart on May 18 on of my favorite trade set-ups took place. This is what is referred to as a GREEN CST (Common Sense Trading) at Trends in Futures. A weak trend in oversold condition so eye on correction up and move above 550. So a buy stop above 550, and for those who are real conservative above 560. Something you would have seen recommended on the CST Daily Advantage at Trends in Futures. At this point all we are doing is managing open trade equity. For a 9-year history of recommended trades at Trends in Futures just grab a copy of my book What Lies Beneath ALL Trendsand I will send the trade history. So question now, how high will Spring Wheat go? If the bullish posture strengthens with big money and fundamentals remain bullish as I mentioned above 750-800 will be in play.For a bull sighting see the monthly chart below as we see something we have not seen in 4 years, price action is once again trading above the 50 period moving average, putting what I believe is price action between 750-800 in play.



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With over twenty-five years of trading experience, Gary managed Futures Learning Center (a division of Futures Magazine) from 1997 until 2006. For thirteen of those years he has helped thousands of retail traders learn to trade to win and stop trading not to lose. For the past 7 years he has written Futures Magazine's popular weekly e-newsletter Market Pulse, as well as articles for the magazine. He has also been quoted in the Wall Street Journal.  When Gary's group was sold to Commodity Research Bureau, he quickly realized the excellent stable of trading tools that CRB offered to traders.  One tool Gary focused on was the Electronic Futures Trend Analyzer (later called TrendTrader) because it provided specific trade recommendations.  Gary soon realized that when these trade recommendations were in agreement with his toolbox of trading indicators, including his analysis of the new Disaggregated Commitments of Traders report (COT), that these became high probability trades.  That is when www.TrendsinFutures.com was created. With Trends in Futures you get specific trade recommendations with instant access to daily and weekly charts Gary created to get proper chart confirmations. Gary also wanted to make this educational so traders learn to trade to win and stop trading not to lose. So you also will have access to Gary’s video commentary on the trades Trends in Futures recommends, and video commentary on current open trades plus educational videos. Gary feels that bringing together the best of CRB with his trading experience that they have created the best trading tool for consistently catching all of the major market moves year after year. See for yourself how www.TrendsinFutures can make you more profitable by taking a 30-day free trial. “I am dedicated to your trading success. Are you?”  Stop making your broker rich and take the 30-day free trial now!

TRADING IN COMMODITY FUTURES OR OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 

 

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