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.

Must Read: Snapshot of the Big Picture

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $122.10 -0.72%
FB $93.22 -3.90%
GOOG $625.05 -1.10%
TSLA $263.69 -0.05%
YHOO $37.36 -0.82%

Markets

Chart of I:DJI
DOW 17,685.48 -65.91 -0.37%
S&P 500 2,095.81 -12.76 -0.61%
NASDAQ 5,071.4960 -40.2370 -0.79%

Free Reports