Cycles top very soon, time to take profit.

2021年1月17日

Check my related idea. Daily cycles that fuelled the recent move top somewhere around the 22nd of January and the longer term cycle is down till late February. All upside price targets have been reached and it's time to take profit and consider short. To see real weakness wheat has to close below 650.

2021年1月23日

註釋

We took profit right around the top - 690 and now wheat has corrected all the way down to 634. Daily cycles topped and the weekly cycle is down - downside price target is around 575. However, very short term we could see a little bounce - insignificant.

2021年1月30日

註釋

Now you can very clearly observe that cycles topped around the 20th of January at the 700 resistance level. Every bounce has less power then the previous, as a result we see lower highs and lower lows. Cycle turned down and trend is down.

2021年2月14日

註釋

Medium term cycle is bottoming sometime soon.