Wheat FuturesLong
Wheat Futures ( ZW1! ), H1 Bullish rise!
Type : Bullish rise
Resistance 1132'6
Pivot: 1106'4
Support : 1084'4
Preferred Case: With price breaking above the ichimoku cloud and making a new high on the donchian channel, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance and 100% Fibonacci projection from our pivot in line with the pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the 50% Fibonacci retracement.
Fundamentals: No Major News
Resistance 1132'6
Pivot: 1106'4
Support : 1084'4
Preferred Case: With price breaking above the ichimoku cloud and making a new high on the donchian channel, we have a bullish bias that price will rise to our 1st resistance in line with the horizontal swing high resistance and 100% Fibonacci projection from our pivot in line with the pullback support.
Alternative scenario: Alternatively, price may break pivot structure and head for 1st support in line with the 50% Fibonacci retracement.
Fundamentals: No Major News
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.