Today is Sunday and we traditionally summarize the last trading week and prepare our plan for the forthcoming trading week.
We had one unsuccessful trade last week. Those instruments that were on our checklist haven’t yet gone our way.
WHEAT – closed position, loss $7,162
This is a new signal and we assumed that the price will move downward via impulse. However, there has not yet been an impulse downward movement. The loss on the deal was $7,162. We think that we will re-enter on Monday. Seasonality contributes to lower prices for wheat. Accumulation is bearish. The supply and demand indicator is also strongly bearish. We think that it will continue down.
For the CRB index, the outgoing week was an internal week. We can say that this is a week of uncertainty. The accumulation is still bullish, but the price has been in the sideways for several months. It is difficult to predict next week now. In fact, we’ll see what the next week will be for the index.
That’s all about our trading in this week.
Next, we are moving to planning forthcoming trading week 46.
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