WHEAT - Daily - Technical analysis published on 01/19/2022 (GMT)
- 179
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Slightly bullish
Technical indicators
56%
6%
39%
My opinion
Neutral between 761.75 USD and 814.75 USD
My targets
-
My analysis
A slightly bullish trend and a neutral short term. With such a pattern, it is difficult to favour buying or selling. The first resistance is located at 814.75 USD. The first support is located at 761.75 USD. A very slight advantage is given by the slightly bullish basic trend so that the resistance is reached first, but should we take this into account? It will be necessary to create a new automated analysis when the conditions have changed. This may be the case, for example, when the first resistance has been broken above or the first support has been broken below.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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This analysis was given by Clay707. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The WHEAT rating is 776.00 USD. On the day, this instrument gained +0.91% with the lowest point at 769.50 USD and the highest point at 776.75 USD. The deviation from the price is +0.84% for the low point and -0.10% for the high point.769.50
776.75
776.00
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WHEAT:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of WHEAT indicates that the overall trend is slightly bullish. Only 53.57% of the signals given by moving averages are bullish. This slightly bullish trend could return to neutral given the neutral signals also given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
The probability of a further increase are moderate given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish doji star
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 632.90 | 674.50 | 761.75 | 776.00 | 814.75 | 867.50 | 943.25 |
| Change (%) | -18.44% | -13.08% | -1.84% | - | +4.99% | +11.79% | +21.55% |
| Change | -143.10 | -101.50 | -14.25 | - | +38.75 | +91.50 | +167.25 |
| Level | Major | Major | Major | - | Minor | Intermediate | Minor |
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 | 719.42 | 730.33 | 749.67 | 760.58 | 779.92 | 790.83 | 810.17 |
| Camarilla | 760.68 | 763.45 | 766.23 | 769.00 | 771.77 | 774.55 | 777.32 |
| Woodie | 723.63 | 732.44 | 753.88 | 762.69 | 784.13 | 792.94 | 814.38 |
| Fibonacci | 730.33 | 741.89 | 749.03 | 760.58 | 772.14 | 779.28 | 790.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 695.33 | 716.17 | 728.83 | 749.67 | 762.33 | 783.17 | 795.83 |
| Camarilla | 732.29 | 735.36 | 738.43 | 741.50 | 744.57 | 747.64 | 750.71 |
| Woodie | 691.25 | 714.13 | 724.75 | 747.63 | 758.25 | 781.13 | 791.75 |
| Fibonacci | 716.17 | 728.96 | 736.87 | 749.67 | 762.46 | 770.37 | 783.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 666.83 | 708.92 | 739.83 | 781.92 | 812.83 | 854.92 | 885.83 |
| Camarilla | 750.68 | 757.37 | 764.06 | 770.75 | 777.44 | 784.13 | 790.83 |
| Woodie | 661.25 | 706.13 | 734.25 | 779.13 | 807.25 | 852.13 | 880.25 |
| Fibonacci | 708.92 | 736.80 | 754.03 | 781.92 | 809.80 | 827.03 | 854.92 |
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): | 50.42 | |
| MACD (12,26,9): | -8.6200 | |
| Directional Movement: | -4.15 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 757.80 | |
| Parabolic SAR (0,02-0,02-0,2): | 777.11 | |
| Elder Ray (13): | 8.08 | |
| Super Trend (3,10): | 798.55 | |
| Zig ZAG (10): | 774.50 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 46.03 | |
| TEMA (21): | 753.85 | |
| Williams %R (14): | -27.11 | |
| Chande Momentum Oscillator (20): | 5.75 | |
| Repulse (5,40,3): | 3.3400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1900 | |
| Courbe Coppock: | 7.04 |
| MA7: | 760.50 | |
| MA20: | 773.42 | |
| MA50: | 794.14 | |
| MA100: | 768.08 | |
| MAexp7: | 762.80 | |
| MAexp20: | 769.42 | |
| MAexp50: | 777.41 | |
| MAexp100: | 768.18 | |
| Price / MA7: | +2.04% | |
| Price / MA20: | +0.33% | |
| Price / MA50: | -2.28% | |
| Price / MA100: | +1.03% | |
| Price / MAexp7: | +1.73% | |
| Price / MAexp20: | +0.86% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | +1.02% |
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:
-
Syrian families struggle to get bread during wheat crisis
-
New strain of Monsanto GM wheat escapes lab, grows in wild
-
Trading Wheat. Commodity Brief
-
Gene-Edited Gluten Makes Wheat For Celiac Disease Sufferers
-
What’s next for wheat after surge — #SaxoStrats
This member declared not having a position on this financial instrument or a related financial instrument.
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