Wheat Analysis and Outlook
(ZWH26)
ONE44 employs two techniques to identify market support and resistance.
The first is the major Gann square, indicated by the yellow horizontal line on the chart.
The second method utilized is Fibonacci retracement.
This is the ONE44 analysis of wheat using these techniques.
Wheat
March
From the special update on January 12, 2026:
Since last week,
Wheat set a new bear market low and once again affected the aforementioned retracement level. This is a critical threshold for this week as we’re on the lookout for initial signs of a trend reversal, which might occur at a 38.2% reversion from the November 5, 2016 high (23.6%) at 527.00.
We are targeting 527.00 as our swing point for this week.
Today’s high saw a swing point of 527.00 (38.2%), exceeding by 20 cents while the short-term trend remains negative, falling back to a low of 507.00. This range will be critical this week. The 78.6% retracement, although narrow, could signal the beginning of the next upward trend if it holds.
We will once again consider 507.00 as our swing point for this week.
This week’s lows established at 507.00, a 78.6% swing point, remain pivotal. If this level stays intact, it might signal the start of a new bull market (according to the ONE44 78.6% rule). If no new lows are registered, the targeted price points will stay consistent.
We are reaffirming 507.00 as our swing point for this week.
For any advancements, the trend needs to move past 527.00 (38.2%) to turn the short-term outlook positive. If achieved, the short-term target could elevate to 554.00, also at 78.6%. The long-term goal is set at 585.00 on the major Gann square, with a further long-term target at 606.00, representing 38.2% back to the highs seen on May 22 and 24, 2024.
If a reversal doesn’t occur here, expect to seek support near the major Gann square when trading below. The next significant levels would be at 495.00 and 465.25.
ONE44 Analytics for Concise Insights
Our intent isn’t just to supply actionable insights but also to unpack the reasoning behind market movements based on pure price analysis through Fibonacci retracements. We aim to clarify the underlying market structure.
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