Tag: wheat

Wheat – November 27, 2023

As I continue to track wheat we can see where more “measured moves” and projection PATTERNS are creating a very powerful BUY zone for wheat. That being said, it’s still a pretty far down there so patience is the key.

I hawked the DBA ETF (https://g.co/finance/DBA:NYSEARCA) for 2 years and got in prety much close to the low and am still in it long. So, if you go research it, you will find Wheat being a major commodity component in it’s weighting.

Would be “nice” to see DBA bottom down at that pattern level and Wheat to be at/around the the zone shown below for a GREAT BUY ….

I patiently wait and hawk and occasionally take a look at to see if my thesis is true OR I have to get out the earser and relook at the chart w/ a refresh pair of eyes.

DBA – a target finally hit …

long term BUY targets being hit on the commodity ETF DBA

the first target zone we have been watching for a LONG time was hit on the DBA ETF last week. note, we also have other targets in the 12.70′ ish area but, as far as long term targets being hit – DBA has hit them. a low risk BUY in today’s climate.

note, when looking at the composition of the DBA ETF, discovered that the largest holding at 14% is CLTL or an inverse bond fund. Interesting … other than that we have the typical coffee, soybean, corn, sugar, cocoa, wheat, cattle and hogs … not that much volume but if your not a futures player then this is an opportunity to get a broad basket of commodities in your portfolio.