Wheat - Saves Us From Loss

We have to give a hats off to Wheat which gave us an early warning signal on our short position in Soybeans.

This is exactly why it is important to follow the entire complex and not simply the one commodity you are interested in trading.

Currently the Beans have broken out of their wedge pattern and should continue to move higher. I have not entered into a long position as of yet as I am going to await a small pullback to the upper line on the wedge pattern. Take a look at the chart.