Yep agreed. I see no divergence yet on Wheat so wouldn't go long
until this happens. Surprised the pullback has been so deep in
Wheat but you gotta read the tape and it looks bearish.....until it
isn't! Trend firmly down
You are welcome. I think for all of these commodities, it is
awfuly tempting given that price has fallen alot. However, the
macro PDBC ETF hasn't formed the C Wave down and therefore, I think
if the S&P sells off, there will be some "mini-liquidation" out
of these commodities as well
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Wheat
Posted by vimal on 4th of Jun 2026 at 11:41 am
One of Matts Macro plays. Again, this has room to work lower towards the 200day in my opinion. It has had an almighty fall in the past few weeks
I will look to buy when we see a bit of MACD Divergence, some better price action and support at the 200day
https://schrts.co/XzdVViwh
The July contract of Wheat
Posted by EricK on 4th of Jun 2026 at 01:31 pm
The July contract of Wheat is almost at the 200sma, if it fails there then I can see it developing sort of a downward channel there
Yep agreed. I see no
Posted by vimal on 4th of Jun 2026 at 01:48 pm
Yep agreed. I see no divergence yet on Wheat so wouldn't go long until this happens. Surprised the pullback has been so deep in Wheat but you gotta read the tape and it looks bearish.....until it isn't! Trend firmly down
Wheat
Posted by miliski2000 on 4th of Jun 2026 at 11:48 am
Thanks for a little insight
You are welcome. I think
Posted by vimal on 4th of Jun 2026 at 11:53 am
You are welcome. I think for all of these commodities, it is awfuly tempting given that price has fallen alot. However, the macro PDBC ETF hasn't formed the C Wave down and therefore, I think if the S&P sells off, there will be some "mini-liquidation" out of these commodities as well