SOYBEAN

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	SOY
ISIN:

SOYBEAN - Daily - Technical analysis published on 05/20/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

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SOYBEAN Chart

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bullish

Technical indicators

67%

33%

My opinion

Bullish above 1,177.00 USD

My targets

1,259.50 USD (+2.86%)

1,325.25 USD (+8.23%)

My analysis

The strong short-term increase for SOYBEAN reinforces the current slightly bullish trend. As long as the price remains above 1,177.00 USD, you could take advantage of this bullish acceleration. The first bullish objective is located at 1,259.50 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1,325.25 USD as an objective. Crossing it would then enable buyers to target 1,363.35 USD. A return to 1,177.00 USD would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

4.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Barts_XV.

Additional analysis

Quotes

The SOYBEAN price is 1,224.50 USD. The price is lower by -0.29% since the last closing with the lowest point at 1,224.25 USD and the highest point at 1,230.50 USD. The deviation from the price is +0.02% for the low point and -0.49% for the high point.

1,224.25

1,230.50

1,224.50

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this SOYBEAN chart shows a slightly bullish trend. Only 53.57% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Bearish harami

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	882.75	971.35	1,160.67	1,224.50	1,226.80	1,259.50	1,325.25
Change (%)	-27.91%	-20.67%	-5.21%	-	+0.19%	+2.86%	+8.23%
Change	-341.75	-253.15	-63.83	-	+2.30	+35.00	+100.75
Level	Major	Minor	Major	-	Major	Intermediate	Intermediate

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,202.42	1,208.83	1,218.42	1,224.83	1,234.42	1,240.83	1,250.42
Camarilla	1,223.60	1,225.07	1,226.53	1,228.00	1,229.47	1,230.93	1,232.40
Woodie	1,204.00	1,209.63	1,220.00	1,225.63	1,236.00	1,241.63	1,252.00
Fibonacci	1,208.83	1,214.95	1,218.72	1,224.83	1,230.95	1,234.72	1,240.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,181.50	1,192.50	1,210.25	1,221.25	1,239.00	1,250.00	1,267.75
Camarilla	1,220.09	1,222.73	1,225.37	1,228.00	1,230.64	1,233.27	1,235.91
Woodie	1,184.88	1,194.19	1,213.63	1,222.94	1,242.38	1,251.69	1,271.13
Fibonacci	1,192.50	1,203.48	1,210.27	1,221.25	1,232.23	1,239.02	1,250.00

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,069.75	1,107.75	1,139.00	1,177.00	1,208.25	1,246.25	1,277.50
Camarilla	1,151.21	1,157.55	1,163.90	1,170.25	1,176.60	1,182.95	1,189.29
Woodie	1,066.38	1,106.06	1,135.63	1,175.31	1,204.88	1,244.56	1,274.13
Fibonacci	1,107.75	1,134.20	1,150.55	1,177.00	1,203.45	1,219.80	1,246.25

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	57.49
MACD (12,26,9):	9.3900
Directional Movement:	10.49
AROON (14):	28.57
DEMA (21):	1,220.94
Parabolic SAR (0,02-0,02-0,2):	1,210.00
Elder Ray (13):	12.25
Super Trend (3,10):	1,186.45
Zig ZAG (10):	1,224.75
VORTEX (21):	1.2000
Stochastique (14,3,5):	66.58
TEMA (21):	1,228.91
Williams %R (14):	-31.67
Chande Momentum Oscillator (20):	25.75
Repulse (5,40,3):	0.1600
ROCnROLL:	1
TRIX (15,9):	0.1000
Courbe Coppock:	6.79

MA7:	1,219.32
MA20:	1,205.83
MA50:	1,199.56
MA100:	1,210.23
MAexp7:	1,220.28
MAexp20:	1,209.72
MAexp50:	1,204.82
MAexp100:	1,224.51
Price / MA7:	+0.42%
Price / MA20:	+1.55%
Price / MA50:	+2.08%
Price / MA100:	+1.18%
Price / MAexp7:	+0.35%
Price / MAexp20:	+1.22%
Price / MAexp50:	+1.63%
Price / MAexp100:	+0.00%

Quotes : - 10 min delayed data - CBOT Futures

News

The last news published on SOYBEAN at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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