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ridethepig | Wheat for the Yearly Close

ridethepig | Wheat for the Yearly Close

📌 @ridethepig ZW1! Market Commentary 17.12.2020

For buyers the breakout creates the typical starting point, one we have seen many many times before. The fact it is happening on the monthly chart is very telling, this is threatening to impulsive explode to the topside via shortages on the supply side from lockdowns and contractions in globalisation.

Whatever may be the case on the climate side (and I am certainly no expert here) it has been one of the biggest crops on year for Russia. Fertile farming at its best... Tracking closely the 600 support, for a move towards 900 and 1350 ... watch out for any battle against this in the coming weeks as we enter into a commodity cycle.

Thanks as usual for keeping the feedback coming 👍 or 👎

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