Wheat - Time for a choice

Wheat has failed 4 weeks in a row to break the 525 price barrier - the weekly MA20 which is in negative direction! If we look at the shape it seems that we will head up, but there are several reasons why we should consider shorting:

• Weekly MA 20 just above 525 with negative direction
  Daily MA 50 just above 525 with negative direction
  We are in decline on the monthly charts
  1H, 2H and 4H chart overbought
  

Sell at 525 $
SL - 530
Target 485 $
Timeframe 2 weeks!

Trade geschlossen: Ziel wurde erreicht:

Now we go up!