Weekly:
- Ichimoku is still bearish biased, but it has lost bearish momentum. Triple bottom? Tenkan and Senkou A started to point up.
- Heikin Ashi shows undecision again: after two bullish candles this week we have a long wicked doji and smoothed haDelta is ard zero line.
Daily:
- Ichimoku is neutral, price is at equilibrium
- Heikin Ashi is bearish biased but looking at last two candles (smaller bodies and no lower low) short term bearish momentum decreased as Price reached Kumo.
This market is trading in a wide range of 460-530. Looking at weekly chart, the importance of 530 upper level is increasing by time, as it is becoming a serious strategic reversal point. (Kijun and 100 WMA)
I have to note that Wheat has been relatively the "strongest" among three grain products. Once the whole complex starts a bullish move, very likely Wheat can be the leader.
- Ichimoku is still bearish biased, but it has lost bearish momentum. Triple bottom? Tenkan and Senkou A started to point up.
- Heikin Ashi shows undecision again: after two bullish candles this week we have a long wicked doji and smoothed haDelta is ard zero line.
Daily:
- Ichimoku is neutral, price is at equilibrium
- Heikin Ashi is bearish biased but looking at last two candles (smaller bodies and no lower low) short term bearish momentum decreased as Price reached Kumo.
This market is trading in a wide range of 460-530. Looking at weekly chart, the importance of 530 upper level is increasing by time, as it is becoming a serious strategic reversal point. (Kijun and 100 WMA)
I have to note that Wheat has been relatively the "strongest" among three grain products. Once the whole complex starts a bullish move, very likely Wheat can be the leader.