Thursday, September 23, 2021

Dec Wheat Bullish Gartley Re-entry - Update 1



The Daily chart above shows we gapped up at the open last night, then filled in the gap, followed by a nice up day. Sorry its so busy. Please just pay attention to the yellow annotations.

We finished at the top of the candle, and made a higher high than the previous swing high. We closed over the 8ema and also over the 20sma and 34ema. Stochastics are still mid-range, so plenty of runway. Volume was higher today than yesterday, which adds credibility to today's move. All is is Bullish.

I wanted to add to my position but we're up against the 50sma which can provide resistance. So I'm going to wait on that. Tomorrow is a Friday so I probably won't increase the position tomorrow either.


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