WHEAT

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - Daily - Technical analysis published on 12/05/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Court terme: Strongly bearish

De fond: Slightly bullish

Technical indicators

11%

72%

17%

My opinion

Bearish under 579.87 USD

My targets

546.75 USD (-5.00%)

523.03 USD (-9.12%)

My analysis

The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for WHEAT as long as the price remains well below 579.87 USD. The next bearish objective for sellers is set at 546.75 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 523.03 USD. In case of crossing, the next objective would be the support located at 497.80 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 546.75 USD. With this support, against the trend traders who want to buy WHEAT on a buy signal from their trading strategy should not hesitate to act.

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

Force

2.7

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 Clay707. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WHEAT rating 575.50 USD. The price is lower by -1.54% since the last closing with the lowest point at 575.25 USD and the highest point at 585.50 USD. The deviation from the price is +0.04% for the low point and -1.71% for the high point.

575.25

585.50

575.50

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by WHEAT:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this WHEAT chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. An assessment of moving averages reveals a bearish signal that could impact this trend:

Moving Average bearish crossovers : MA20 & MA50

Type : Bearish

Timeframe : Daily

In fact, 13 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	497.80	523.03	546.75	575.50	579.87	617.50	632.75
Change (%)	-13.50%	-9.12%	-5.00%	-	+0.76%	+7.30%	+9.95%
Change	-77.70	-52.47	-28.75	-	+4.37	+42.00	+57.25
Level	Intermediate	Intermediate	Intermediate	-	Major	Minor	Major

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	567.92	573.83	579.17	585.08	590.42	596.33	601.67
Camarilla	581.41	582.44	583.47	584.50	585.53	586.56	587.59
Woodie	567.63	573.69	578.88	584.94	590.13	596.19	601.38
Fibonacci	573.83	578.13	580.79	585.08	589.38	592.04	596.33

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	565.75	580.50	593.25	608.00	620.75	635.50	648.25
Camarilla	598.44	600.96	603.48	606.00	608.52	611.04	613.56
Woodie	564.75	580.00	592.25	607.50	619.75	635.00	647.25
Fibonacci	580.50	591.01	597.50	608.00	618.51	625.00	635.50

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	506.50	540.25	558.75	592.50	611.00	644.75	663.25
Camarilla	562.88	567.67	572.46	577.25	582.04	586.83	591.62
Woodie	498.88	536.44	551.13	588.69	603.38	640.94	655.63
Fibonacci	540.25	560.21	572.54	592.50	612.46	624.79	644.75

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	41.32
MACD (12,26,9):	-4.2300
Directional Movement:	-3.06
AROON (14):	-21.43
DEMA (21):	591.04
Parabolic SAR (0,02-0,02-0,2):	616.45
Elder Ray (13):	-11.58
Super Trend (3,10):	625.26
Zig ZAG (10):	576.75
VORTEX (21):	0.9100
Stochastique (14,3,5):	18.97
TEMA (21):	582.73
Williams %R (14):	-94.36
Chande Momentum Oscillator (20):	-26.25
Repulse (5,40,3):	-2.9500
ROCnROLL:	2
TRIX (15,9):	-0.0400
Courbe Coppock:	3.65

MA7:	587.79
MA20:	596.50
MA50:	598.39
MA100:	565.45
MAexp7:	587.00
MAexp20:	594.81
MAexp50:	590.18
MAexp100:	573.51
Price / MA7:	-2.09%
Price / MA20:	-3.52%
Price / MA50:	-3.83%
Price / MA100:	+1.78%
Price / MAexp7:	-1.96%
Price / MAexp20:	-3.25%
Price / MAexp50:	-2.49%
Price / MAexp100:	+0.35%

Quotes : 2020-12-04 22:40:15 - 10 min delayed data - CBOT Futures

News

The latest news and videos published on WHEAT at the time of the analysis were as follows:

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

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