Index Trend Analysis Report
Prepared for you on Sunday, February 17, 2019.
SOFT RED WINTER WHEAT INDEX (MGEX:IW)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for IW
The long term trend has been UP since Jan 29th, 2018 at 405.55
The intermediate term trend has been DOWN since Feb 15th, 2019 at 488.78
The short term trend has been DOWN since Feb 15th, 2019 at 493.03
Smart Scan Analysis for IW
Based on a pre-defined weighted trend formula for chart analysis, IW scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).
|52wk High||2018||52wk High Date||2018-08-07|
|52wk Low||413.7||52wk Low Date||2018-03-29|
|Open Time||20:00||Close Time||14:45|