Wheat Accelerating Higher

The chart of WEAT shows we may be rotating higher … much higher.

The recent rate of the trend-lines is shown (below). If today’s action in the market moves higher, it helps to confirm the new trend-line.

Taking advantage of this move could be through trading the futures contracts.

Our example, is using the Teucrium WEAT fund to gain exposure.

More data on that fund is here.

As reported here, crop prices could spike based on several factors. 

Note at time stamp 10:18, it’s being reported the USDA is counting the corn crop destroyed by the Derecho as ‘yield’.  This claim has not been verified.  We’re letting the charts do that for us.

Wyckoff stated many times in his writings, there are thousands if not tens-of-thousands of analysts covering every conceivable sector of the markets.

Their collective decisions are reflected on the tape. 

Proper interpretation of that tape, can discern the result of their analysis and the most likely direction of the markets.

An expandable version o the chart is here.

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.