Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
By: Rick Alexander, senior broker at Zaner Group.
WHEAT: 5/16/12 THE ELECTRONIC GRAIN HOURS WILL BE EXTENTED TO 4:PM CST DUE TO NEW COMPETITION FROM THE ICE EXCHANGE. THIS WILL START ON SUNDAY EVENING MAY 20TH at 5:00PM SUNDAY. News of China possible buying corn helped the grains follow the corn higher today. Higher closes yesterday for Minneapolis, Kansas City and Chicago wheat futures. The wheat complex continues to look very bearish but the wheat complex settled higher this time making large ranges. Minneapolis stopped its losing streak at ten with its best close in five trading session but still in a downtrend overall since September 2011. There’s also strong resistance overhead from 800 to 850. KC and and Chicago settled higher again also having large ranges but, like Minneapolis still in long-term downtrends. KC has resistance above 680 and its last major support is undereath 600 while trending down since February 2011. Chicago has been making lower highs since early this year but is now below the range that was roughly between 600 and 700. Of course, I’ve been talking about that range for quite a while. It’s had lower tendencies since May 2011. There is also strong resistance above 650. The enitre wheat complex can be sold on rallies until further notice. CALL FOR DETAILS! Don’t forget the possiblility that the world wheat crop could be a record. The funds may also still be holding a record number of short positions but I would guess there has been substantial liquidation lately. For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription. SELL SIGNALS FOR MINNEAPOLIS AND KANSAS CITY WHEAT FUTURES. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@Zaner.com!
Rick Alexander
(312) 277-0107
Subscribe FREE to Zaner Group’s Daily Research Newsletter.
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.
- Judy Crawford’s Wheat futures commentary (5/16)
- Rick Alexander’s Wheat futures commentary (5/15)
- Judy Crawford’s Wheat futures Market Update (5/11)
- Soybean Meal futures show a fresh buy signal (5/10)
- Metal complex tumbles, Gold futures generate a sell signal (5/11)
- Rick Alexander’s Softs futures commentary (5/15)
- Heating Oil & Gasoline RBOB show sell signals (5/14)
- Rick Alexander’s Stock Index futures commentary (5/15)
- Live Cattle & Feeder Cattle futures give buy signals (5/15)
- Rick Alexander’s Metal futures commentary (5/15)
- Rick Alexander’s Currency futures commentary (5/15)
- Markethead: Quotes, charts, news, commentary and more
Rick Alexander’s Wheat futures commentary (5/18)
Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources.
By: Rick Alexander, senior broker at Zaner Group.
WHEAT: 5/18/12 THE ELECTRONIC GRAIN HOURS WILL BE EXTENTED TO FROM 5:00 PM THROUGH 2:00PM CST DUE TO NEW COMPETITION FROM THE ICE EXCHANGE. THIS WILL START ON SUNDAY EVENING MAY 20TH at 5:00PM. Higher closes yesterday for Minneapolis, Kansas City and Chicago wheat futures. The wheat complex continues to look very bearish overall but has had sharp rallies this week telling me that the complex was oversold not a turnaround. Minneapolis settled higher for its third session in a row and best high and close in 2 1/2 weeks but still in a downtrend overall since September 2011. There’s also strong resistance overhead from 800 to 850. KC and Chicago also settled higher for their third and fourth sessions in a row respectively with the former making its highest high and close since around April 10th and the latter also early April. KC has resistance above 680 and its last major support is undereath 600 while trending down since February 2011 while Chicago had been making lower highs since early this year until today after rallying 60 to 70 cents since My 11th. There is also strong resistance above 650. The enitre wheat complex can be sold on rallies until further notice. CALL FOR DETAILS! Don’t forget the possibility that the world wheat crop could be a record. The funds may also still be holding a record number of short positions but I would guess there has been substantial liquidation lately. For additional customizable charts and quotes visit Markethead.com for a FREE, no-obligation 30 day subscription. SELL SIGNALS FOR MINNEAPOLIS AND KANSAS CITY WHEAT FUTURES. CALL FOR DETAILS AT (312) 277-0107 OR EMAIL ralexander@zaner.com!
Rick Alexander
(312) 277-0107
ralexander@zaner.com
Zaner Group
Subscribe FREE to Zaner Group’s Daily Research Newsletter.
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.