Short Wheat; Long Coffee?

The past two months has seen Wheat mount a weak recovery following the break down through the 400-psychological level earlier in the year. Is the long term down trend set to return with more weakness on the horizon? Coffee, on the other hand, has been going from strength to strength and is now testing a major support level on the daily chart. In today's technical insight, Hao from Trade With Precision shares his trade plans for these two breakfast staples.’ CMC Markets is a global leader in online trading, offering CFD and FX trading. Learn how to trade CFDs with our variety of educational videos on trading strategies. Trade the global financial markets, including currencies, commodities, indices, companies and treasuries. Spreads may widen dependent on liquidity and market volatility. Investing in CFDs carries significant risks and is not suitable for all investors. You could lose substantially more than your initial deposit. You do not own, or have any interest in, the underlying assets. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.