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IvanLabrie
7 Th08 2017 18:32

Wheat: Bottom of the pullback spotted Giá lên

Teucrium Wheat Fund ETVArca

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I think there's a significant probability that the bottom of the recent correction in Wheat is in. I'm holding longs and now added my final entry a tad lower than this. I expect a rally back over the recent highs very soon. The crops this year suffered due to a significant drought in the regions where wheat is produced in the US. I think it is likely that this situation continues, and we get a strong rally from here onwards. Shout out to Tim West, who correctly diagnosed this situation with prescience in the KHL chatroom.
Promising trade here, potentially similar in scale to the rally that took place in 1988.

Best of luck,

Ivan Labrie.

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Mdotee.
grand solar minimum is on your side here ivan
Heinzz
@IvanLabrie It looks like the bottom is in here at low 6.30s. What is your opinion?
Jerrytay9
Looks really really weak
ZaloRostam
Hi, I can't see a rally in 1998, what the chart shows rally happened in 2008. finviz.com/futures_charts.ashx?t=ZW&p=m1
Thanks for sharing
IvanLabrie
@ZaloRostam, 1988. But yes, 2008 had a big rally too.
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