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Linda Raschke, founder at LBR Asset Management, observes that wheat continues to exhibit bullish continuation patterns. Three days ago, momentum highs were recorded on the rate of change indicator and the price has since pushed outside the Keltner Channel. Raschke highlights that this move could signal a climax bar or continued strength, with strong fundamentals supporting the current upside.
Raschke’s recent market signals have included identifying buy opportunities in Russian stocks and maintaining a bullish view on gold, as detailed in her previous commentary. She also recently cautioned on a possible sell short day, citing rate of change divergence as large-cap stocks underwent distribution in a separate analysis. These observations follow her ongoing use of momentum indicators and pattern recognition across multiple markets.