After highlighting the pullback to the previous T2 level as on objective re-entry or new swing trade entry in yesterday’s Long Swing Trades Ideas video, WEAT (wheat ETN) held that support level like a champ has moved impulsively (3.24%) higher so far today, gaining about the same as the stock market (S&P 500) has over the past month.
WEAT daily July 11th
Likewise, /ZW (wheat futures) shot impulsively higher shortly after once again highlighting it as an objective long entry in this morning’s Charts I’m Watching post following the recent divergent low & pullback to just above the 492ish support & has run into the 522.40ish resistance level where it might take a breather before the next leg higher (i.e.- next buy signal on a solid break above today’s high). Previous (this morning’s) & updated 60-minute charts below:
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- ZW 60-min July 11th
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- ZW 60-min 2 July 11th
