Two great calls….traded one of them

Πιο πλουσιο μενου, δεν γίνεται…
July 3, 2017
Μικρές σε δράση (ΚΛΜ, ΕΛΤΟΝ, ΚΡΙΚΡΙ)
July 3, 2017

Last week I  called the Oil bottom and reversal together with my bullish view in Wheat. I did not trade both but only WHEAT. Here are the two sms messages I sent to my subscribers regarding a wheat long future position opened and a long call option at 2.75$ priced now at 17$.

Oil is showing signs of being overbought in the daily chart. Bulls need to be cautious. Our target of 49-50$ has not been reached…..but we could see some more upside before a reversal.

Wheat has broken out of a long-term wedge pattern that started around 740$. This is my target.

At 550$ we could see a first pause in the rise of wheat price.  Trend is clearly bullish and any pull back is a buying opportunity.

Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.