It looks like the price of Wheat has finally reversed out of a long term sinking wedge. Following a multi year low, price action is now in a rising channel. I bought at the red line (8.74). So far trade has been successful. Unless something drastically changes in the commodities market or price breaks below the bottom of channel I'm going to keep holding this. You can't see it on this chart but there is long term bullish divergence on price and RSI. I think this is just the beginning of a long-term price reversal
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.