wheat market


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

October 23rd, 2014 Filed under Future Trading News, Grain Futures | Comment (0)

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.

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