Wheat,Corn,Soybeans - Trend breaks and bearish reversals
Wheat: Has been changing direction as fast as it was going up. Price is in the Kumo still, but below Senkou B and Kijun Sen, DMI bearish too. Chikou Span made its bearish cross. Any correction back to 574 will likely be a good entry point to enter short.
Corn: Turning bearish as well, but still Corn is the one that has the "best" performance technically. Price broke bullish trendline and horizontal support, there is a weak Tenkan/Kijun sell signal and Chikou Span is about to make a bearish cross too. We will either see further drop in price or some consolidation into the cloud.
Soybeans: It could never make the bullish breakout, right now Price is back to Kumo and to the bottom of the range.
It should be still considered as neutral, but a break below the cloud with a Chikou Span sell signal would indicate a heavy selling.
One thing is sure, bullish bias is out of picture now. Which one, when and how to short is another question.
Corn: Turning bearish as well, but still Corn is the one that has the "best" performance technically. Price broke bullish trendline and horizontal support, there is a weak Tenkan/Kijun sell signal and Chikou Span is about to make a bearish cross too. We will either see further drop in price or some consolidation into the cloud.
Soybeans: It could never make the bullish breakout, right now Price is back to Kumo and to the bottom of the range.
It should be still considered as neutral, but a break below the cloud with a Chikou Span sell signal would indicate a heavy selling.
One thing is sure, bullish bias is out of picture now. Which one, when and how to short is another question.
