The /ZW (wheat futures) or WEAT (wheat ETF) swing trade idea entered at the pullback to the primary uptrend line on WEAT in Friday’s trade ideas video has gapped up in the pre-market session to hit (and slightly overshoot) the first target of 9.23 on the WEAT daily chart with the next target at 9.66 likely. I’m also adding another target here around the 10.36 level.
WEAT daily Oct 31st
/ZW wheat futures gapped up last night on the latest Euro-drama headline (Russia halting grain shipments) & I’ve added a few nearby support & resistance levels that could provide objective add-ons (pullbacks to support and/or breakouts above resistance) on the 60-minute chart below.
ZW 60m Oct 31st