WHEAT
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 06/23/2021 (GMT)

  • 172
  • 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bearish
Underlying: Slightly bearish
Technical indicators
17%
44%
39%
My opinion
Bearish under 685.50 USD
My targets
633.00 USD (-3.95%)
601.75 USD (-8.69%)
My analysis
WHEAT is currently trying to strengthen its basic trend with a very bearish short term. As long as the price remains below 685.50 USD, traders may consider taking advantage of this bearish acceleration and setting themselves to trade only in short positions (for sale). Sellers will encounter the support at 633.00 USD. A bearish break in this support would confirm a continuation of the bearish acceleration. The next support located at 601.75 USD would then be the next bearish objective for sellers. Crossing it would then enable sellers to target 579.87 USD. Beware of a possible return to above the resistance located at 685.50 USD which would be a sign of a correction of the short-term bearish excesses registered.

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
0
10
3.8

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:
15 min. 1H Weekly

Additional analysis

Quotes

WHEAT rating 659.00 USD. The price registered an increase of +0.61% on the session and was traded between 657.25 USD and 659.50 USD over the period. The price is currently at +0.27% from its lowest and -0.08% from its highest.

657.25
659.50
659.00

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

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


A technical analysis in Daily of this WHEAT chart shows a slightly bearish trend. 60.71% of the signals given by moving averages are bearish. This slightly bearish trend could be reinforced by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bearish. The Central Indicators scanner found this result concerning these indicators:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Daily



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

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 579.87 601.75 633.00 659.00 685.50 718.00 739.00
Change (%) -12.01% -8.69% -3.95% - +4.02% +8.95% +12.14%
Change -79.13 -57.25 -26.00 - +26.50 +59.00 +80.00
Level Major Minor 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
Standard626.58640.67648.33662.42670.08684.17691.83
Camarilla650.02652.01654.01656.00657.99659.99661.98
Woodie623.38639.06645.13660.81666.88682.56688.63
Fibonacci640.67648.98654.11662.42670.73675.86684.17


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard603.25621.75643.75662.25684.25702.75724.75
Camarilla654.61658.33662.04665.75669.46673.18676.89
Woodie605.00622.63645.50663.13686.00703.63726.50
Fibonacci621.75637.22646.78662.25677.72687.28702.75


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard504.83572.17632.83700.17760.83828.17888.83
Camarilla658.30670.03681.77693.50705.23716.97728.70
Woodie501.50570.50629.50698.50757.50826.50885.50
Fibonacci572.17621.06651.27700.17749.06779.27828.17

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): 42.53
MACD (12,26,9): -7.8700
Directional Movement: -5.75
AROON (14): -57.14
DEMA (21): 663.09
Parabolic SAR (0,02-0,02-0,2): 700.25
Elder Ray (13): -0.28
Super Trend (3,10): 716.47
Zig ZAG (10): 658.75
VORTEX (21): 0.9900
Stochastique (14,3,5): 31.11
TEMA (21): 655.63
Williams %R (14): -75.29
Chande Momentum Oscillator (20): -31.75
Repulse (5,40,3): -2.8300
ROCnROLL: 2
TRIX (15,9): -0.1400
Courbe Coppock: 3.82
MA7: 661.21
MA20: 671.50
MA50: 689.78
MA100: 665.82
MAexp7: 662.82
MAexp20: 672.46
MAexp50: 676.05
MAexp100: 664.16
Price / MA7: -0.33%
Price / MA20: -1.86%
Price / MA50: -4.46%
Price / MA100: -1.02%
Price / MAexp7: -0.58%
Price / MAexp20: -2.00%
Price / MAexp50: -2.52%
Price / MAexp100: -0.78%

Quotes : - 10 min delayed data - CBOT Futures

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

About author

Online

Overall rating :
15090
Number of analyses :
Followers :
0
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

Add a comment

no pic

Comments

0 comments on the analysis WHEAT - Daily