The recently highlighted bullish falling wedge breakout & backtest + pullback to support= objective long entry on /ZS (soybeans futures) and WEAT (wheat ETN). 60-minute charts below.
ZS 60m May 27th
WEAT 60m May 27th
On a related note, as the grains (soybeans, wheat, & corn) tend to move together, shortly after highlighting the setup in yesterday’s trade ideas video, /ZW wheat broke out above the downtrend line, triggering a buy signal on /ZW (wheat futures) and WEAT (wheat ETN). 60-minute charts below.
ZW 60m May 27th
WEAT 60m May 27th
FYI- JJG, the grain ETN, is another proxy for trading soybeans, corn, & wheat.