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 04/22/2021 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 655.42 USD

My targets

685.50 USD (+0.85%)

739.00 USD (+8.72%)

My analysis

WHEAT is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 655.42 USD. The next resistance located at 685.50 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 739.00 USD. After this resistance, buyers could then target 943.25 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.4

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

WHEAT rating 679.75 USD. The price has increased by +0.70% since the last closing and was traded between 675.50 USD and 680.00 USD over the period. The price is currently at +0.63% from its lowest and -0.04% from its highest.

675.50

680.00

679.75

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, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of WHEAT indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

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:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	579.87	601.75	633.00	679.75	685.50	739.00	943.25
Change (%)	-14.69%	-11.47%	-6.88%	-	+0.85%	+8.72%	+38.76%
Change	-99.88	-78.00	-46.75	-	+5.75	+59.25	+263.50
Level	Major	Minor	Major	-	Major	Minor	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	644.33	652.42	663.83	671.92	683.33	691.42	702.83
Camarilla	669.89	671.68	673.46	675.25	677.04	678.83	680.61
Woodie	646.00	653.25	665.50	672.75	685.00	692.25	704.50
Fibonacci	652.42	659.87	664.47	671.92	679.37	683.97	691.42

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	593.67	608.33	630.42	645.08	667.17	681.83	703.92
Camarilla	642.39	645.76	649.13	652.50	655.87	659.24	662.61
Woodie	597.38	610.19	634.13	646.94	670.88	683.69	707.63
Fibonacci	608.33	622.37	631.05	645.08	659.12	667.80	681.83

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	504.42	548.83	579.92	624.33	655.42	699.83	730.92
Camarilla	590.24	597.16	604.08	611.00	617.92	624.84	631.76
Woodie	497.75	545.50	573.25	621.00	648.75	696.50	724.25
Fibonacci	548.83	577.67	595.49	624.33	653.17	670.99	699.83

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):	69.10
MACD (12,26,9):	8.9500
Directional Movement:	17.06
AROON (14):	100.00
DEMA (21):	653.27
Parabolic SAR (0,02-0,02-0,2):	635.84
Elder Ray (13):	27.00
Super Trend (3,10):	629.21
Zig ZAG (10):	679.75
VORTEX (21):	1.1500
Stochastique (14,3,5):	90.82
TEMA (21):	664.62
Williams %R (14):	-0.34
Chande Momentum Oscillator (20):	64.25
Repulse (5,40,3):	2.2200
ROCnROLL:	1
TRIX (15,9):	0.0300
Courbe Coppock:	14.75

MA7:	660.61
MA20:	633.64
MA50:	643.11
MA100:	636.00
MAexp7:	661.31
MAexp20:	645.16
MAexp50:	640.46
MAexp100:	630.95
Price / MA7:	+2.90%
Price / MA20:	+7.28%
Price / MA50:	+5.70%
Price / MA100:	+6.88%
Price / MAexp7:	+2.79%
Price / MAexp20:	+5.36%
Price / MAexp50:	+6.13%
Price / MAexp100:	+7.73%

Quotes : - 10 min delayed data - CBOT Futures

News

Don"t forget to follow the news on WHEAT. At the time of publication of this analysis, the latest news was as follows:

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

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