{"id":24582,"date":"2023-05-05T11:15:00","date_gmt":"2023-05-05T11:15:00","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/chicago-wheat-back-on-the-move\/"},"modified":"2023-06-25T18:54:11","modified_gmt":"2023-06-25T18:54:11","slug":"chicago-wheat-back-on-the-move","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/th\/chicago-wheat-back-on-the-move\/","title":{"rendered":"Chicago Wheat Back on the Move"},"content":{"rendered":"\n

Good morning Traders!<\/p>\n\n\n\n

The price of Wheat<\/a> continues to slide, following the break of the major Support level at around the area of 740, the market has then retested that level, consolidated for a while, and then finally, broke to a new Lower Low.<\/p>\n\n\n\n

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Wheat D<\/figcaption><\/figure>\n\n\n\n
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Wheat W<\/figcaption><\/figure>\n\n\n\n
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Wheat W<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

Drawing the Fibonacci<\/a> retracement of the latest Daily move, has the 50% retracement clustering nicely with the support area at around the 660 level, and the 61.8% retracement clustering with the previous Daily swing Low.<\/p>\n\n\n\n

I\u2019ll be looking for the pullback to continue to around the 50% to the 61.8% retracement area, and then for a rollover setup. It\u2019s important to note that the market<\/a> latest Low, went slightly lower than the previous Weekly Low printed in July 2021, however from a Monthly point of view, we are very close to the swing Higher Low, and therefore I will be looking first for signs that the sellers are reversing the pullback and picking up momentum, rather than a pullback entry at the 660 area.<\/p>\n\n\n\n

Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning Traders! The price of Wheat continues to s […]<\/p>\n","protected":false},"author":15,"featured_media":23657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"Chicago Wheat: Back on the Move | %%sitetitle%%","_seopress_titles_desc":"Stay updated on the movement of Chicago Wheat as it resumes activity. Get expert analysis for traders and make informed trading decisions.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"Chicago Wheat Back on the Move - FXGlobe","_seopress_social_fb_desc":"The price of Wheat continues to slide, following the break of the major Support level at around the area of 740, the market has then retested that level, consolidated for a while, and then finally, broke to a new Lower Low.","_seopress_social_fb_img":"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/chicago-wheat-back-on-the-move.jpg","_seopress_social_fb_img_attachment_id":13178,"_seopress_social_fb_img_width":1200,"_seopress_social_fb_img_height":630,"_seopress_social_twitter_title":"Chicago Wheat Back on the Move - FXGlobe","_seopress_social_twitter_desc":"The price of Wheat continues to slide, following the break of the major Support level at around the area of 740, the market has then retested that level, consolidated for a while, and then finally, broke to a new Lower Low.","_seopress_social_twitter_img":"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/chicago-wheat-back-on-the-move.jpg","_seopress_social_twitter_img_attachment_id":13178,"_seopress_social_twitter_img_width":1200,"_seopress_social_twitter_img_height":630,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/comments?post=24582"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/media\/23657"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/media?parent=24582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/categories?post=24582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/tags?post=24582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}