After a perfect kiss of T2 (final target of the last trade), /ZW (wheat futures) corrected back to the former T1 (now support), reversed, & is now breaking out above the former T2 717.674 resistance level. 60-minute chart below, price targets on /ZW and WEAT (wheat ETN) to follow.
ZW 60m Aug 2nd
/ZC (corn) is likely to follow /ZW which is breaking out today, likely outperforming as it plays a game of catch-up, should today’s breakout in wheat stick. 60-minute chart below.
ZC 60m Aug 2nd
CORN (corn ETN) offers an objective long entry or add-on with a stop somewhat below the primary uptrend line and/or 19.17ish support level with an initial price target just below the 22.70 resistance level. Daily chart below.
CORN daily Aug 2nd