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 05/24/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

78%

17%

My opinion

Bearish under 685.50 USD

My targets

632.90 USD (-4.68%)

601.75 USD (-9.38%)

My analysis

The strong short-term decrease of WHEAT should quickly allow the basic trend to become bearish. As long as the price remains below the resistance located at 685.50 USD, a sale could be considered. The first bearish objective is located at 632.90 USD. The bearish momentum would be boosted by a support break. Sellers could then target the support located at 601.75 USD. If there is any crossing, the next objective would be support 579.87 USD. Caution, if there is a return to above 685.50 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

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

Force

3.4

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 664.00 USD. The price is lower by -1.52% since the last closing with the lowest point at 663.25 USD and the highest point at 668.75 USD. The deviation from the price is +0.11% for the low point and -0.71% for the high point.

663.25

668.75

664.00

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 WHEAT:

Technical

Technical analysis of WHEAT in Daily shows a neutral overall trend. This indecision could turn into a bearish trend due to the strong bearish 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 50

Type : Bearish

Timeframe : Daily

Bearish price crossover with Moving Average 100

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : Daily

Bearish price crossover with adaptative moving average 100

Type : Bearish

Timeframe : Daily

The probability of a further decline is high given the direction of the technical indicators.
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 scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

MACD indicator is back under 0

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

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

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	579.87	601.75	632.90	664.00	685.50	718.00	739.00
Change (%)	-12.67%	-9.38%	-4.68%	-	+3.24%	+8.13%	+11.30%
Change	-84.13	-62.25	-31.10	-	+21.50	+54.00	+75.00
Level	Major	Minor	Intermediate	-	Major	Intermediate	Intermediate

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	654.75	660.25	666.50	672.00	678.25	683.75	690.00
Camarilla	669.52	670.60	671.67	672.75	673.83	674.90	675.98
Woodie	655.13	660.44	666.88	672.19	678.63	683.94	690.38
Fibonacci	660.25	664.74	667.51	672.00	676.49	679.26	683.75

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	600.08	632.92	652.83	685.67	705.58	738.42	758.33
Camarilla	658.24	663.08	667.92	672.75	677.59	682.42	687.26
Woodie	593.63	629.69	646.38	682.44	699.13	735.19	751.88
Fibonacci	632.92	653.07	665.52	685.67	705.82	718.27	738.42

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	479.25	544.25	639.50	704.50	799.75	864.75	960.00
Camarilla	690.68	705.37	720.06	734.75	749.44	764.13	778.82
Woodie	494.38	551.81	654.63	712.06	814.88	872.31	975.13
Fibonacci	544.25	605.47	643.29	704.50	765.72	803.54	864.75

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):	38.47
MACD (12,26,9):	-1.6900
Directional Movement:	-2.61
AROON (14):	-78.57
DEMA (21):	701.57
Parabolic SAR (0,02-0,02-0,2):	749.16
Elder Ray (13):	-29.43
Super Trend (3,10):	732.63
Zig ZAG (10):	664.00
VORTEX (21):	0.9200
Stochastique (14,3,5):	3.84
TEMA (21):	687.09
Williams %R (14):	-99.28
Chande Momentum Oscillator (20):	-89.75
Repulse (5,40,3):	-3.3800
ROCnROLL:	2
TRIX (15,9):	0.2300
Courbe Coppock:	12.97

MA7:	685.14
MA20:	716.20
MA50:	672.18
MA100:	665.09
MAexp7:	684.03
MAexp20:	697.88
MAexp50:	683.96
MAexp100:	664.09
Price / MA7:	-3.09%
Price / MA20:	-7.29%
Price / MA50:	-1.22%
Price / MA100:	-0.16%
Price / MAexp7:	-2.93%
Price / MAexp20:	-4.85%
Price / MAexp50:	-2.92%
Price / MAexp100:	-0.01%

Quotes : - 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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