As the charts of WEAT (Wheat ETN) and /ZW (wheat futures) continue to firm up, with wheat breaking out yesterday above the bullish falling wedge pattern posted last Wednesday (first chart below), and so far following through today, WEAT still offers an objective long entry & will be added as an official trade at current levels.

The price targets for this trade are the same as listed last week; T1 at 5.26, T2 at5.48 & T3 at 5.76. The suggested stop is any move below 4.85 and the suggested beta-adjusted position size for this trade is 1.0.