GeoKyra

A quick short-term look at the wheat ZW contract

CBOT:ZW1!   Futuros de trigo
ZW1! Wheat is currently located in a weekly Fair value gap . On the daily chart we have been rejected by the FVG (checkpoint "1") and we reached (and totally respected) the volume imbalance (checkpoint "2") . After that point price may go up or down. We should see how market opens in Monday. One possibility is that wheat might be pricing higher , heading towards the buyside liquidity that is located in the checkpoint "3" or maybe the Faire Value Gap that is resting above in the checkpoint "4". One other possibility is that price pass through the volume imbalance and head towards the sell-side liquidity that is resting bellow (checkpoint "5"or maybe "6") but I think it will descent in a slow pace till price finds its needed liquidity to shift its structure.
Aviso legal

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