Wheat Primed for April Surge
04/02/16 Weekly Re-Lay:
“Soybeans, Corn & Wheat are mixed as Soybeans have finally turned their weekly trend up (a lagging & confirming indicator) after turning their weekly 21 MAC up…Corn spiked to new lows as Wheat reinforced its setup for a new intermediate advance. Based on its daily trend pattern, Wheat should retest its recent high. However, that could spur upside follow-through and a potential domino-effect of resistance penetrations.
Wheat has three consecutive monthly LHR levels – at 512.5–514.0/WK – a very tight range of extreme upside intra-moth targets that could be tested in April. A surge to that level would also produce a textbook (dynamic) ‘3’ wave that is 1.618 times the magnitude of the ‘1’ wave.
1–4 week traders could have bought May Wheat futures at 466.0 down to 455.25 and should …[reserved for subscribers only].”
Soybeans, Corn & Wheat are steadily validating projections for an initial surge into 3Q 2016, following Major cycle lows in 4Q 2015/1Q 2016. Soybeans & Wheat are showing the strongest potential – on an intermediate basis – capable of triggering some acceleration higher in April. If so, watch ~515.0/WK as a telling level. SeeWeekly Re-Lay publications for more details and related trading strategies. All of this is expected to be a very early sign of developing Food Crises Cycles projected for 2016/2017 (–2019).