Agricultural products have risen from long-term lows, with medium-term momentum showing a positive shift. As stock market volatility increases, this is an emerging technology theme that we are interested in. Last month, in the Fast Money and Fairlead Strategies Idea Generator, we highlighted agricultural ETFs such as Teucrium Corn Fund (CORN) and Invesco DB Agriculture Fund (DBA) as oversold opportunities. After a few weeks of healthy consolidation, agricultural commodities look poised to continue higher, so we're revisiting the charts to take advantage of a larger counter-trend move. Wheat is an example of a commodity that is seeing a shift in bullish momentum, via the Teucrium Wheat Fund (WEAT). Note that WEAT recently cleared initial resistance at the 10-week moving average, causing the weekly MACD and stochastics to move higher. The mid-term bullish turn occurred after a successful test of long-term support from 2019 near $4.90. Stochastic is not yet overbought, increasing the likelihood of upside. The Zhouyun model (shaded area on the chart) is a key resistance level for WEAT, currently near $6.20, above which WEAT will reverse its long-term downward trend. Another way to express a bullish view on agricultural products is through agricultural stocks. One company that qualifies as a constituent of the S&P 500 is crop chemicals company Corteva (CTVA). CTVA has established higher lows above the weekly cloud on its chart, now acting as support for the bullish turn phase. According to the weekly MACD, medium-term momentum is positive, and the upward slopes of the 40-week and 200-day moving averages suggest that long-term momentum has also turned positive. Given the bullish outlook for commodities such as wheat in the coming weeks, in addition to the positive momentum in CTVA itself, we believe that Fibonacci resistance around $59 appears to be overcome, which would forecast a mid-term moving price target of around $65. Long-term support for CTVA lies at the weekly cloud and the 40-week moving average, which converge around $53, although we would consider using the rising 50-day moving average as a trailing stop for long positions. —Katie Stockton and Will Tamplin Get free access to Fairlead Strategies research here. Disclosure: (None) All opinions expressed by CNBC Pro contributors are theirs alone and do not reflect the opinions of CNBC, NBC UNIVERSAL, its parent company or affiliates, and may have been previously published by them on television, radio, the Internet or spread on other media. The above is subject to our Terms and Conditions and Privacy Policy. 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