expand/collapse risk warning

CFDs come with a high risk of losing money rapidly due to leverage. 71% of accounts lose money when trading CFDs with this provider. You should understand how CFDs work and consider if you can take the risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

71% of retail investor accounts lose money when trading CFDs with this provider.

Market Insights

Trading Insights: Wheat prices about to break higher?

Copy of Blog Images - Skilling - 2023-06-23T101836.984

Commentary & insights

  • Wheat prices in focus as Russian Black Sea gain deal ends on July 17th
  • Wheat vs the USD dollar up +23% last 30 days

Wheat vs USD breaks above 10 month trendline implying the end of the prevailing downtrend.

Screenshot 2023-06-23 102024

Wheat USD current price is above its 10 month downward trend line, current price is above its 4, 9 and 18 day moving averages, MACD is above equilibrium, and RSI is pointing higher indicating that the prospects for higher prices remains.

Current price $747.29 Upside prospects for $825 Downside risk below $680


Today’s economic calendar

Screenshot 2023-06-23 102105
Source: TradingView / J. Knobel June 23 2023 6:45 UTC

Spanish Gross Domestic Product (GDP) beats forecast:

Spain's GDP jumps 0.1% over the last 3 months

Asset focus: Spain 35 Index bullish conditions remain

Screenshot 2023-06-23 102132

Spain 35 (weekly chart) suggests that the index remains in an uptrend. Current price is above its 52 week upward trendline (bullish), current price is above its 13 week moving average (bullish), both the 13 week and 6 week rate of change indicators are above their respective zero lines (bullish), thereby from a medium term (26-49 days) technical point of view long positions could be support for potential upside extension towards the 10,190 area, while downside risk is seen below the 9,245 support (see chart).

Not investment advice. Past performance does not guarantee or predict future performance.