Wheat Hits The ONE44 Short Term Target, 618.00/61.8%

Wheat Hits The ONE44 Short Term Target, 618.00/61.8%

(ZWK26) 

The rally in wheat started back January when the market failed to make a new low in the area of a 78.6% retracement, following the ONE44 78.6% rule we know this where a lot of Bull markets start.

From our Weekly Grain/Livestock Update on 1/15/26

Each low this week held the 78.6% swing point at 507.00 and this will again be the key level for the week.  Provided this level can hold it can be the start of the next Bull run (ONE44 78.6% rule). With no new low all the Above/Below Targets remain the same.

Use 507.00 as the swing point for the week again.

Above it, it still needs to take out 527.00(38.2%) to turn the short term trend positive. Provided it can, the short term target is 78.6% of the same move at 554.00. The longer term target is the 585.00 major Gann square. The long term target is also the long term swing point at 606.00, this 38.2% back to the 5/22/24 high.

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The next important thing for the rally was that it held a 38.2% retracement on each setback to keep the trend positive, ONE44 38.2% rule.

The 3 key setbacks happen on 2/2/26 when 38.2% was 537.00, then on 2/17/26 when 38.2% was 541.00 and the last one was on 3/4/26 when 38.2% was 569.00.

They all went to make new highs for the move which is what to expect when holding a 38.2% retracement.

The last rally was 50 cents and it hit our short term target of 618.00.

From our Weekly Grain/Livestock Update on 3/5/26

May

From last week,

The market had one close above the short term target of 38.2% at 577.25, which was also a major Gann square and close right back below it the next day stopping the long term trend from turning positive, this will be the key level for the week. We watch 38.2% below to see if the short term trend can remain positive on any setback.

Use 577.25 as the swing point for the week.

The rally this week made a new high for the current leg and yesterday's setback held the new 38.2% level back to the 1/2/26 low at 569.00 keeping the short term trend positive, this will be the key level for the week.

Use 569.00 as the swing point for the week.

Above it, the short term target is 618.00, this is 61.8% of the same move and 78.6% back to the 6/20/25 high. The long term….

What now?

We know that a reaction from a 61.8% retracement can send it 61.8% of where it just came from ONE44 61.8% rule.

We believe we are in the beginning stage of a long term bull market and have much higher targets for this market.

You will again have to watch the 38.2% retracement on any setback to see if the current trend stays intact.

We have over 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. Here is the latest.

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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.

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