Wheat

I suspect a trend-change coming soon and getting ready to long.

Komen:

29th I believe will be the day to back up the truck on this one.

Komen:

Correction: 31st.

Komen:

Komen:

Its crushing sentiment well... That bodes well for the upcoming long position. I will calculate how long I will keep the position so I can buy call options that are fit for the fight.

Komen:

I will most likely enter into 3 month option duration.

Komen:

First position entered.

Komen:

Entered second position earlier today when it was up about 0.5 %.
Now we are at the 31st where I expected the big trend-change to occur. And boom. Here we go!

Komen:

Now at lower resistance zone (red lower line). If it can get above that line and a weekly close above, its good. If it can get above both, it would be perfect (but perhaps a bit too much to ask this early). Let's see!

Komen:

We're in the middle of breakoutzone. Now we need to take out the second red line, and we're home free.

Komen:

Arrived at upper red line. Here it may be wise to book some profits and rather re-add after closing above. Better safe than sorry :)

Komen:

Re-added at lower line.

Komen:

Expect a STRONG Friday finish in wheat! Good luck!

Komen:

3 %? Indeed.