Click on Chart to EnlargeI have posted before that I have been keeping an eye on wheat and grains. It looks like GRU which is heavily weighted toward wheat may be giving a nice short-term opportunity here.
It formed a hammer reversal yesterday with oversold technicals and reversing off of minor support. The tail on the hammer makes a clear stop point with a pretty good risk to reward ratio. The RSI(5) will be my indicator for exit.
New Trade:
Buy GRU today with a market order. Current price is 5.21. Place a GTC sell stop at 5.04 after entry.
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