WHEAT ONLY0921 - 1H - Technical analysis published on 05/21/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
WHEAT ONLY0921 Chart
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 690.66 USD
My targets
665.75 USD (-1.88%)
649.00 USD (-4.35%)
My analysis
The bearish trend is currently very strong for WHEAT ONLY0921. As long as the price remains below the resistance at 690.66 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 665.75 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 649.00 USD as an objective. Crossing it would then enable sellers to target 623.56 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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This analysis was given by SuperLubeCrude.
Additional analysis
Quotes
The WHEAT ONLY0921 price is 678.50 USD. The price registered an increase of +0.11% on the session and was traded between 676.75 USD and 679.75 USD over the period. The price is currently at +0.26% from its lowest and -0.18% from its highest.676.75
679.75
678.50
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WHEAT ONLY0921:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this WHEAT ONLY0921 chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 5 are bullish, 4 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 600.90 | 623.56 | 665.75 | 678.50 | 690.66 | 718.00 | 738.75 |
| Change (%) | -11.44% | -8.10% | -1.88% | - | +1.79% | +5.82% | +8.88% |
| Change | -77.60 | -54.94 | -12.75 | - | +12.16 | +39.50 | +60.25 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 656.75 | 665.50 | 672.00 | 680.75 | 687.25 | 696.00 | 702.50 |
| Camarilla | 674.31 | 675.70 | 677.10 | 678.50 | 679.90 | 681.30 | 682.69 |
| Woodie | 655.63 | 664.94 | 670.88 | 680.19 | 686.13 | 695.44 | 701.38 |
| Fibonacci | 665.50 | 671.33 | 674.93 | 680.75 | 686.58 | 690.18 | 696.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 607.75 | 649.00 | 677.75 | 719.00 | 747.75 | 789.00 | 817.75 |
| Camarilla | 687.25 | 693.67 | 700.08 | 706.50 | 712.92 | 719.33 | 725.75 |
| Woodie | 601.50 | 645.88 | 671.50 | 715.88 | 741.50 | 785.88 | 811.50 |
| Fibonacci | 649.00 | 675.74 | 692.26 | 719.00 | 745.74 | 762.26 | 789.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 482.00 | 545.75 | 639.00 | 702.75 | 796.00 | 859.75 | 953.00 |
| Camarilla | 689.08 | 703.47 | 717.86 | 732.25 | 746.64 | 761.03 | 775.43 |
| Woodie | 496.75 | 553.13 | 653.75 | 710.13 | 810.75 | 867.13 | 967.75 |
| Fibonacci | 545.75 | 605.72 | 642.78 | 702.75 | 762.72 | 799.78 | 859.75 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 38.96 | |
| MACD (12,26,9): | -2.4500 | |
| Directional Movement: | -13.18 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 679.56 | |
| Parabolic SAR (0,02-0,02-0,2): | 674.85 | |
| Elder Ray (13): | -3.86 | |
| Super Trend (3,10): | 690.22 | |
| Zig ZAG (10): | 678.50 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 44.26 | |
| TEMA (21): | 680.75 | |
| Williams %R (14): | -72.13 | |
| Chande Momentum Oscillator (20): | -7.75 | |
| Repulse (5,40,3): | -0.5700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 1.18 |
| MA7: | 699.14 | |
| MA20: | 719.91 | |
| MA50: | 669.43 | |
| MA100: | 655.03 | |
| MAexp7: | 681.28 | |
| MAexp20: | 682.67 | |
| MAexp50: | 688.42 | |
| MAexp100: | 697.68 | |
| Price / MA7: | -2.95% | |
| Price / MA20: | -5.75% | |
| Price / MA50: | +1.35% | |
| Price / MA100: | +3.58% | |
| Price / MAexp7: | -0.41% | |
| Price / MAexp20: | -0.61% | |
| Price / MAexp50: | -1.44% | |
| Price / MAexp100: | -2.75% |
Quotes :
-
10 min delayed data
-
CBOT Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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