{"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\/zh-hans\/chicago-wheat-back-on-the-move\/","title":{"rendered":"Chicago Wheat Back on the Move"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>The price of <a href=\"https:\/\/www.fxglobe.com\/soft-commodities-on-the-move\/\" data-type=\"post\" data-id=\"24314\">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<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"13188\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/wheat-d-1024x456.png\" alt=\"\" class=\"wp-image-13188\"\/><figcaption class=\"wp-element-caption\">Wheat D<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"13198\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/wheat-w-1024x456.png\" alt=\"\" class=\"wp-image-13198\"\/><figcaption class=\"wp-element-caption\">Wheat W<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"13208\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/wheat-m-1024x456.png\" alt=\"\" class=\"wp-image-13208\"\/><figcaption class=\"wp-element-caption\">Wheat W<\/figcaption><\/figure>\n<\/figure>\n\n\n\n<p>Drawing the <a href=\"https:\/\/www.barchart.com\/story\/news\/17876727\/chicago-wheat-rallied-back-to-close-higher\">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<p>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 <a href=\"https:\/\/www.fxglobe.com\/unraveling-market-trends-a-guide-to-reliable-tools-for-traders\/\" data-type=\"post\" data-id=\"28243\">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<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! The price of Wheat continues to s [&hellip;]<\/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_robots_primary_cat":"none","_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":"","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\/zh-hans\/wp-json\/wp\/v2\/posts\/24582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=24582"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/posts\/24582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/media\/23657"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=24582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=24582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=24582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}