A super simple update to explain why I added the Wheat fund WEAT, per the Trade Log.
First, there is the chart tapping the SMA 200 within an uptrend. The March low needs to hold to keep an uptrend in play.
Second, the seasonal average * is for a low right about now. While public sentiment and commercial hedging data are in middle ground, I think these two charts together give a strong enough risk vs. reward case on Wheat to give it a shot here and now. I’ll keep the rest of the Ag related areas on watch as well.
* Let’s respect the caveat about seasonal averages not needing to play out in any given year.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
