Future Trend Analysis Report
Prepared for you on Wednesday, October 4, 2023.
HARD RED SPRING WHEAT MAY 2024 (MGEX:@MW.K24)
Long-Term Downtrend (-90) - @MW.K24 is in a strong downtrend that is likely to continue. While @MW.K24 is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid @MW.K24?
MarketClub looks at technical strength and momentum to determine if the timing is right for @MW.K24.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for @MW.K24
The long-term trend has been DOWN since Aug 31st, 2023 at 795.75
The intermediate-term trend has been DOWN since Aug 4th, 2023 at 852.00
The short-term trend has been DOWN since Sep 19th, 2023 at 805.25
Smart Scan Analysis for @MW.K24
Based on our trend formula, @MW.K24 is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
|52wk High||941.5||52wk High Date||2023-07-25|
|52wk Low||750.25||52wk Low Date||2023-09-29|