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 11/23/2021 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

11%

My opinion

Bullish above 827.58 USD

My targets

915.33 USD (+7.15%)

943.25 USD (+10.42%)

My analysis

The bullish trend is currently very strong on WHEAT. As long as the price remains above the support at 827.58 USD, you could try to benefit from the boom. The first bullish objective is located at 915.33 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 943.25 USD as an objective. Crossing it would then enable buyers to target 1,250.25 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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

Force

8.6

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 rating is 854.25 USD. The price registered a decrease of -0.38% on the session and was between 853.25 USD and 859.25 USD. This implies that the price is at +0.12% from its lowest and at -0.58% from its highest.

853.25

859.25

854.25

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

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:

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

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in Daily of this WHEAT chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish 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, 15 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

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
ProTrendLines	674.50	761.75	797.25	854.25	943.25	1,250.25
Change (%)	-21.04%	-10.83%	-6.67%	-	+10.42%	+46.36%
Change	-179.75	-92.50	-57.00	-	+89.00	+396.00
Level	Major	Major	Minor	-	Minor	Intermediate

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	821.50	829.50	843.50	851.50	865.50	873.50	887.50
Camarilla	851.45	853.47	855.48	857.50	859.52	861.53	863.55
Woodie	824.50	831.00	846.50	853.00	868.50	875.00	890.50
Fibonacci	829.50	837.90	843.10	851.50	859.90	865.10	873.50

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	767.50	788.75	811.50	832.75	855.50	876.75	899.50
Camarilla	822.15	826.18	830.22	834.25	838.28	842.32	846.35
Woodie	768.25	789.13	812.25	833.13	856.25	877.13	900.25
Fibonacci	788.75	805.56	815.94	832.75	849.56	859.94	876.75

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	652.08	682.42	739.83	770.17	827.58	857.92	915.33
Camarilla	773.12	781.16	789.21	797.25	805.29	813.34	821.38
Woodie	665.63	689.19	753.38	776.94	841.13	864.69	928.88
Fibonacci	682.42	715.94	736.65	770.17	803.69	824.40	857.92

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):	72.74
MACD (12,26,9):	25.9500
Directional Movement:	24.38
AROON (14):	71.43
DEMA (21):	838.80
Parabolic SAR (0,02-0,02-0,2):	808.95
Elder Ray (13):	35.65
Super Trend (3,10):	797.57
Zig ZAG (10):	854.00
VORTEX (21):	1.2000
Stochastique (14,3,5):	90.23
TEMA (21):	850.50
Williams %R (14):	-5.67
Chande Momentum Oscillator (20):	87.50
Repulse (5,40,3):	0.9800
ROCnROLL:	1
TRIX (15,9):	0.4100
Courbe Coppock:	15.56

MA7:	835.25
MA20:	802.01
MA50:	758.53
MA100:	731.23
MAexp7:	836.37
MAexp20:	806.59
MAexp50:	771.30
MAexp100:	741.74
Price / MA7:	+2.27%
Price / MA20:	+6.51%
Price / MA50:	+12.62%
Price / MA100:	+16.82%
Price / MAexp7:	+2.14%
Price / MAexp20:	+5.91%
Price / MAexp50:	+10.75%
Price / MAexp100:	+15.17%

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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