{"id":186107,"date":"2023-03-06T00:58:08","date_gmt":"2023-03-06T05:58:08","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=186107"},"modified":"2023-03-06T01:06:20","modified_gmt":"2023-03-06T06:06:20","slug":"wheat-zw-testing-key-700-level","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/technical-analysis\/wheat-zw-testing-key-700-level\/","title":{"rendered":"Wheat (ZW) Testing Key 700 Level"},"content":{"rendered":"\n

Wheat (ZW) Testing Key 700 Level<\/strong><\/p>\n\n\n\n

Wheat (ZW) is looking wobbly to start the week, gravitating towards the psychologically key 700 whole figure level.\u00a0 However, with ZW also probing descending wedge support (on the weekly chart), odds are moderate and rising for a strong bounce this week.\u00a0 Any clawing back above descending wedge resistance (on the 4hr chart) will dramatically increase odds of a testing of the weekly chart descending wedge resistance in the week after, neutralizing the bear trend since the May high.\u00a0 The escalation in the Ukraine-Russia conflict deserves close monitoring.\u00a0 Congratulations to Premium Members alerted Feb 14, 2022 to the looming resumption in the major uptrend and who benefited<\/a>, along with those who took advantage of\u00a0 the Aug 21, 2020 highlighting of ZW’s major bottoming effort.<\/a>\u00a0 The still downsloping weekly Stochastics is weighing on the weekly MACD which is trying to positively cross.\u00a0 I am looking to go long in the green zone (of the daily chart), targeting the red zone for Friday.\u00a0 The amber\/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).\u00a0 Click here for analysis on SOYBEAN, GBPAUD<\/strong><\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Source: Interactive Brokers TWS<\/p>\n","protected":false},"excerpt":{"rendered":"

Wheat (ZW) is looking wobbly to start the week, gravitating towards the psychologically key 700 whole figure level. 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