The Teucrium Wheat Fund (WEAT) completed a bullish spike reversal during August, once again indicating it has moved to a major (long-term) uptrend. Theoretical Positions: Investors could go long near the August settlement of $4.97 with sell stops below the August low of $4.71. Note this mark took out the previous major low of $4.83 from May 2019.
The SRW Wheat Price Index (IWY00) confirmed a move to a major uptrend as it completed a bullish spike reversal during August. Theoretical Positions: Long positions could be established near the August settlement of $4.7309 with sell stops below the August low of $4.3978.
The HRW Wheat Price Index (IHY00) completed a bullish spike reversal during August, confirming a move to a major uptrend. Theoretical Positions: New long positions could be established near the August settlement of $5.0443 with sell stops below the August low of $4.6947.
The HRS Wheat Price Index (IPY00) extended its major downtrend to a low of $4.9351 during August before closing at $5.3535, up 3.59 cents for the month. As mentioned in this space last time, this completed a bullish spike reversal, confirming a new major uptrend. Theoretical Positions: New longs could be established near the August settlement of $5.3535 with a sell stop below the August low of $4.9351.
