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 12/17/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Bullish

De fond: Bullish

Technical indicators

67%

33%

My opinion

Bullish above 579.87 USD

My targets

617.50 USD (+2.49%)

632.75 USD (+5.02%)

My analysis

A bullish trend on WHEAT both in substance and in the short term. A purchase could be considered as long as the price remains above 579.87 USD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 617.50 USD. Then the price could move towards 632.75 USD. Then 739.00 USD by extension. Be careful, a return below 579.87 USD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

6.4

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

The WHEAT price is 602.50 USD. The price registered an increase of +0.67% on the session and was between 598.50 USD and 605.50 USD. This implies that the price is at +0.67% from its lowest and at -0.50% from its highest.

598.50

605.50

602.50

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

So that you have an overall view of the price change, here is a table showing the variations over several periods:

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

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WHEAT in Daily shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : Daily

In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	523.03	546.75	579.87	602.50	617.50	632.75	739.00
Change (%)	-13.19%	-9.25%	-3.76%	-	+2.49%	+5.02%	+22.66%
Change	-79.47	-55.75	-22.63	-	+15.00	+30.25	+136.50
Level	Intermediate	Intermediate	Major	-	Minor	Major	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	571.58	580.67	589.58	598.67	607.58	616.67	625.58
Camarilla	593.55	595.20	596.85	598.50	600.15	601.80	603.45
Woodie	571.50	580.63	589.50	598.63	607.50	616.63	625.50
Fibonacci	580.67	587.54	591.79	598.67	605.54	609.79	616.67

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	526.50	546.00	580.25	599.75	634.00	653.50	687.75
Camarilla	599.72	604.65	609.57	614.50	619.43	624.35	629.28
Woodie	533.88	549.69	587.63	603.44	641.38	657.19	695.13
Fibonacci	546.00	566.53	579.22	599.75	620.28	632.97	653.50

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 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):	53.39
MACD (12,26,9):	0.2800
Directional Movement:	8.08
AROON (14):	35.71
DEMA (21):	594.72
Parabolic SAR (0,02-0,02-0,2):	572.96
Elder Ray (13):	6.66
Super Trend (3,10):	615.93
Zig ZAG (10):	602.50
VORTEX (21):	0.9800
Stochastique (14,3,5):	60.06
TEMA (21):	593.70
Williams %R (14):	-38.05
Chande Momentum Oscillator (20):	23.75
Repulse (5,40,3):	-0.4300
ROCnROLL:	1
TRIX (15,9):	-0.0600
Courbe Coppock:	0.74

MA7:	598.61
MA20:	593.62
MA50:	602.14
MA100:	571.08
MAexp7:	597.32
MAexp20:	595.15
MAexp50:	591.35
MAexp100:	576.97
Price / MA7:	+0.65%
Price / MA20:	+1.50%
Price / MA50:	+0.06%
Price / MA100:	+5.50%
Price / MAexp7:	+0.87%
Price / MAexp20:	+1.23%
Price / MAexp50:	+1.89%
Price / MAexp100:	+4.42%

Quotes : 2020-12-17 10:59:15 - 10 min delayed data - CBOT Futures

News

The last news published on WHEAT 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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