Key Levels For Wheat
The chart is key to this analysis.
 There are two methods we use at ONE44 to find support and resistance in the markets.
The first are major Gann squares, these are the yellow horizontal lines on the chart.
The second is Fibonacci retracements.
Using the Fibonacci retracements with the ONE44 rules and guidelines we will explain where the market is right now.Â
The setback from a 38.2% retracement on 1/12/26 failed to make a new low in the area of a 78.6% retracement at 507.00, following the ONE44 78.6% rule we know when this happens it can be the start of the next bull move. As you can see on the chart it rallied over 30 cents. The next setback held 38.2% at 528.00, this low was also backed up by the 524.00 major Gann square. The 38.2% level is what needs to hold to keep the current trend intact and a new high should follow. It did and now has hit 78.6% at 553.00. This week's analysis will tell you what is possible on a setback from there and what to look for on a failure to turn lower from it.
Here is this week's analysis,
Wheat
March
From last week,
The last three days have sat on the 528.00 (38.2%) swing point for the week. It closed below it today and will need to close back above it tomorrow to keep the short term trend positive, a failure to do so can send it back to the low.
Use 528.00 as the swing point for the week again.
Above it, the short term target is 78.6% back to the 11/5/25 high at 554.00. The longer term...
All of this week held the 528.00 (38.2%) swing point backed up by the 524.00 major Gann square keeping the short term trend positive. The rally from there fell 2 ticks short of the short term target of 78.6% at 554.00 and this will be the key level for the week.
.
Use 554.00 as the swing point for the week.
Above it, the short term target is the 585.00 major Gann square. The long term target is also the long term swing point at 606.00, this is 38.2% on the continuation chart.
Below it, the longer term target on a setback from 554.00 (78.6%) is 78.6% the other way at 512.00 per the ONE44 78.6% rule. The short term target is 38.2% at 533.50, this is the level that needs to hold to keep the short term trend positive. Any setback that holds 23.6% at 541.00 is a strong sign and a new high can quickly follow.
ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.
If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.
You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
Sign up for our Free newsletter here.
Â
FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.
/Amazon%20-%20Image%20by%20bluestork%20via%20Shutterstock.jpg)
/Micron%20Technology%20Inc_logo%20and%20website-by%20Mojahid%20Mottakin%20via%20Shutterstock.jpg)
/Salesforce%20Inc%20HQ%20building-by%20JHVEPhoto%20via%20Shutterstock.jpg)
