#Wheat = Monthly Analysis + Long Term Forecast = 03.09.2022 #ZW1 #WheatFutures @ft @cnbc @markets @marketwatch #wheatprices $wheat $weat #oatt

Based on the monthly candle closure, wheat has no intent to reverse the downwards trend and is likely consolidating before moving lower. The ride down can possibly continue for several quarters.

In today’s analysis, I will traditionally evaluate the candles that ZW1 formed on multiple frames, do a deep dive into some technical analysis and statistics, and complete the forecast using the theories of Messrs. Elliott and Fibonacci.

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Previous forecast:
https://investingangles.com/2022/08/02/wheat-long-term-forecast-02-08-2022-zw1-wheatfutures-ft-cnbc-markets-marketwatch-wheatprices-wheat/

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