Is the Wheat rally real or just a short covering bounce? & Levels 10.24.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Is the Wheat rally real or just a short covering bounce?

Along with the rest of the grain complex and many other commodities, the wheat market has taken a serious beating, declining from $7.64 in May to $4.66 in late September! That is a very serious drop in price (close to 40%!!) in a short period of time.

 

In recent weeks, the wheat market has bounced almost $0.60 from its lows and the big question longer term traders, as well as swing traders, are asking themselves, is the following: Is this just a chance to go short again or is this the beginning of a reversal to the upside.

Continue reading “Is the Wheat rally real or just a short covering bounce? & Levels 10.24.2014”

Non Farm Payroll Data, Economic Reports & Levels 10.03.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

 

We started a trial for a new squawk box service here at Cannon and I must say I was impressed enough to share with you an example of the wrap up email I received as well as a link to their services:

http://www.livesquawk.com/#!sign_up  Continue reading “Non Farm Payroll Data, Economic Reports & Levels 10.03.2014”

Commodity Trading Levels for October 5th 2010

Not an easy market to read right now in my opinion.

It is showing signs like it would like to visit some lower levels, yet there is enough buying interest to keep it above 1127.

This Friday monthly unemployment levels will be watched closely.
If the market breaks below 1127, it has a chance of picking some more speed to the downside.
On the flip side, bulls will need to see new highs in order to get back in control of price action.
Daily chart with some price levels to watch for your review below:

Commodity Futures Trading Charts
Commodity Futures Trading Charts

Continue reading “Commodity Trading Levels for October 5th 2010”