SOYBEAN - Daily - Technical analysis published on 04/03/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 870.90 USD
My targets
821.75 USD (-4.31%)
804.80 USD (-6.28%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SOYBEAN as long as the price remains well below 870.90 USD. The sellers” bearish objective is set at 821.75 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 804.80 USD. In case of crossing, the next objective would be the support located at 538.50 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
5.7
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOYBEAN rating is 858.75 USD. On the day, this instrument lost -0.46% with the lowest point at 857.00 USD and the highest point at 870.00 USD. The deviation from the price is +0.20% for the low point and -1.29% for the high point.857.00
870.00
858.75
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SOYBEAN:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN in Daily shows a overall strongly 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. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
On the 18 technical indicators analysed, 7 are bullish, 6 are neutral and 5 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 804.80 | 821.75 | 856.70 | 858.75 | 870.90 | 886.75 | 908.45 |
| Change (%) | -6.28% | -4.31% | -0.24% | - | +1.41% | +3.26% | +5.79% |
| Change | -53.95 | -37.00 | -2.05 | - | +12.15 | +28.00 | +49.70 |
| Level | Major | Minor | Major | - | Major | Major | 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 | 866.92 | 871.33 | 878.67 | 883.08 | 890.42 | 894.83 | 902.17 |
| Camarilla | 882.77 | 883.85 | 884.92 | 886.00 | 887.08 | 888.15 | 889.23 |
| Woodie | 868.38 | 872.06 | 880.13 | 883.81 | 891.88 | 895.56 | 903.63 |
| Fibonacci | 871.33 | 875.82 | 878.60 | 883.08 | 887.57 | 890.35 | 894.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 790.33 | 805.67 | 834.08 | 849.42 | 877.83 | 893.17 | 921.58 |
| Camarilla | 850.47 | 854.48 | 858.49 | 862.50 | 866.51 | 870.52 | 874.53 |
| Woodie | 796.88 | 808.94 | 840.63 | 852.69 | 884.38 | 896.44 | 928.13 |
| Fibonacci | 805.67 | 822.38 | 832.70 | 849.42 | 866.13 | 876.45 | 893.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 829.42 | 849.08 | 870.92 | 890.58 | 912.42 | 932.08 | 953.92 |
| Camarilla | 881.34 | 885.14 | 888.95 | 892.75 | 896.55 | 900.36 | 904.16 |
| Woodie | 830.50 | 849.63 | 872.00 | 891.13 | 913.50 | 932.63 | 955.00 |
| Fibonacci | 849.08 | 864.94 | 874.73 | 890.58 | 906.44 | 916.23 | 932.08 |
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): | 44.13 | |
| MACD (12,26,9): | -2.3200 | |
| Directional Movement: | -2.93 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 868.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 844.09 | |
| Elder Ray (13): | 1.30 | |
| Super Trend (3,10): | 832.85 | |
| Zig ZAG (10): | 862.75 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 73.68 | |
| TEMA (21): | 873.13 | |
| Williams %R (14): | -45.07 | |
| Chande Momentum Oscillator (20): | 41.00 | |
| Repulse (5,40,3): | -2.7100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 2.74 |
| MA7: | 880.14 | |
| MA20: | 866.91 | |
| MA50: | 882.37 | |
| MA100: | 900.87 | |
| MAexp7: | 874.65 | |
| MAexp20: | 873.36 | |
| MAexp50: | 883.67 | |
| MAexp100: | 893.14 | |
| Price / MA7: | -2.43% | |
| Price / MA20: | -0.94% | |
| Price / MA50: | -2.68% | |
| Price / MA100: | -4.68% | |
| Price / MAexp7: | -1.82% | |
| Price / MAexp20: | -1.67% | |
| Price / MAexp50: | -2.82% | |
| Price / MAexp100: | -3.85% |
News
Don"t forget to follow the news on SOYBEAN. At the time of publication of this analysis, the latest news was as follows:
-
Ahead Of Trump-Xi Meeting, USDA Announces Huge Soybean Sale To China
-
Soybean farmer: We would like to have markets, not aid
-
Impact of tariffs on America's soybean farmers
-
Will Trump's Truce With China Help Soybean Sales?
-
U.S. Trade Gap Hits 10-Year High In October As Soybean Exports Continue To Fall
This member declared not having a position on this financial instrument or a related financial instrument.
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