My latest bullish signal for wheat hrw was on 16 April 2016.Since then price of wheat srw went up 4.37 by %.This week I got a bearish signal for this commodity based on the total number of new short contracts opened(10,739) vs total number of old long contracts closed(11,104) for the last 2 weeks.In addition to this I also got a Pearson correlation coefficient(PCC) of -0.92 for the last 3 weeks and this means a strong negative correlation between bullish vs bearish sentiment for this period with the bearish investors in control of this commodity.Therefore I expect price of wheat hrw to drop in the upcoming days/weeks.Check performance of my trackrecord2016 and strategy2016 on my free websites:
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