Wheat Review: The Bulls Should Pay Attention
Eric De Groot | Aug 14, 2019 01:41AM ET
Those that view the message of the market on daily basis are likely confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.
Wheat has entered triple downside alignment. This signal is driven by the daily trend. The primary trend has been down for 9 months.
Wheat's DI is not showing statistically significant distribution like corn. Accumulation/distribution is neutral with a slight bullish bias. Neutral does not mean the bulls should ignore triple downside alignment.
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