Saturday 20 August 2016

Wheat hrs

My latest bullish signal for the wheat hrs was on 9 July 2016.Since then price of this commodity went up  by 6.63%.This week I got a bearish signal for this commodity based on the total number of new short contracts opened(1,528) vs. net number of old  long contracts closed(3,293) in the last 3 weeks.Moreover,in the last 3 weeks, there was a Pearson correlation coefficient(PCC) = - 0.89 which means a strong enough negative correlation between bearish sentiment(strong) vs. bullish sentiment(weak).Therefore I expect price of this commodity to drop in the coming week(s).Check out my trackrecord2016 file and strategy on my free websites:http://futuresandoptions.wixsite.com/cotswingcharts
and http://cotreportfreeswingcharts.my-free.website

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