This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Focus - Wheat

The wheat continuous contract (@W) initially continued higher after the last update as expected. However, the commodity found strong resistance from its 200-day moving average in late October and has now given back its recent gains.

While wheat has steadily been declining for the last couple of weeks, it is now approaching an area which may provide support. The area corresponds to last summer's lows around 635. The area will likely be tested in the near future and will likely be pivotal for the direction of wheat for the rest of the year.

As a reminder, wheat has been in a downtrend for over a year, but recent price action had suggested that a trend reversal could be under way. For now, until further developments, it appears that wheat may still be in a bottoming process.

You can read more of this blog here.

Written by Frederic Palmliden, CMT, Senior Quantitative Analyst, TradeStation.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $128.70 0.00%
FB $78.81 0.00%
GOOG $540.78 0.00%
TSLA $230.51 0.00%
YHOO $42.04 0.00%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports