/ZW (wheat futures) offers an objective re-entry, add-on, or new long (edited; previously typo’d as short incl. chart below) entry on this backtest of the downtrend line/wedge following the typical reaction off the 550ish target. Previous (May 20th) & updated 120-minute charts below with arrow breaks denoting likely reaction levels.
ZW 120m May 20th
ZW 120m May 27th
Likewise, WEAT (wheat ETN) also offers an objective add-on or new entry on this pullback off the R2/R3 zone to backtest the primary downtrend line. Previous (May 20th) & updated 60-minute charts below.
WEAT 60m May 20th
WEAT 60m May 27th
The targets above remain the near-term swing targets (weeks to months) with the longer-term trend targets as previously highlighted on the weekly chart of $WHEAT (continuous futures contract).