The Wheat's overall trend, revealed by trends of price, leverage, and time, defined and are discussed in the COT Matrix and Review of Wheat for subscribers.
Tired of following experts or 'gurus' that consistently provide after-the-fact and non-actionable interpretations? Follow the message of the market instead. Markets are either focused bull or bear opportunities, or consolidation/profit-taking (CP) against them.
The wheat's focused bear opp has produced an impressive 117% annualized return for the bears since the first week of July (see COT Matrix 07/05/16). This opp recorded 97% after the fourth week of July. Disciplined bears that booked partial profits and reduced risk in July and August are letting their profits run.
COT Matrix 07/05/16
A weekly close above resistance from 7.73 pauses the down impulse and favors at least a retest of the June of previous support from 8.49 to 8.56.
On Balance Volume, a crude measure of trend energy, indicates distribution. This favors the bears.
Market-driven money flow, trend, and intermarket analysis is provided by an Insights key.