Wheat Market Analysis

(ZWH26)

Methods for Identifying Market Support and Resistance

ONE44 employs two key techniques for analyzing the wheat market. The first is the major Gann square, which is represented by the yellow horizontal line on their charts. The second method involves Fibonacci retracement levels.

Analysis Overview

In a recent update from January 12, 2026, there was a significant development. The market hit a new low, signaling another dip in the retracement mentioned earlier. This week, attention will be on the level of 527.00—any signs of a trend reversal could occur if we see a 38.2% return to the high of November 5, 2016 (23.6%).

So, we’ll focus on 527.00 as our pivotal swing point this week. Interestingly, today’s highs actually touched that swing point, breaking through by more than 20 cents, yet the short-term trend remains downward. We also noted a drop back to the low of 507.00, which is crucial for our analysis this week. The 78.6% retracement is a narrow scope, but if it holds steady, it might indicate the onset of a new upward trend.

Current Week’s Key Levels

This week, we’ve identified 507.00 at the 78.6% swing point as another critical level to monitor. Should this support hold, it could potentially mark the beginning of a new bull market, in line with the ONE44 78.6% rule. If we don’t see any new lows, our target prices should remain the same.

Again, 507.00 serves as a swing point this week. To shift the short-term trend to positive, we would need to surpass 527.00 (38.2%). If we manage that, the short-term target could be aiming for 554.00, which is also at the 78.6% level. Longer term, 585.00 is a target aligned with the major Gann Square, and eventually aims for 606.00, which corresponds to a 38.2% return to the highs observed on May 22 and 24, 2024.

If we fail to reverse from this range, we’ll only have the major Gann square to look for support levels. The next support levels below are 495.00 and 465.25.

ONE44 Analytics: Clarity in Analysis

Our aim is not just to offer actionable insights but also to convey the reasons behind our analyses grounded in price movements and Fibonacci retracement principles. We want to highlight the underlying structure of the entire market along with Gann Square metrics.