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 08/24/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

39%

28%

My opinion

Bearish under 658.38 USD

My targets

617.42 USD (-2.62%)

My analysis

WHEAT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 658.38 USD. The next support located at 617.42 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

5.9

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 mkbnet. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

WHEAT rating 634.00 USD. The price registered a decrease of -0.90% on the session and was between 626.50 USD and 642.50 USD. This implies that the price is at +1.20% from its lowest and at -1.32% from its highest.

626.50

642.50

634.00

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

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WHEAT in Daily shows a overall strongly bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

On the 18 technical indicators analysed, 6 are bullish, 5 are neutral and 7 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

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

	S1	Price	R1	R2	R3
ProTrendLines	617.42	634.00	658.38	712.75	805.90
Change (%)	-2.62%	-	+3.85%	+12.42%	+27.11%
Change	-16.58	-	+24.38	+78.75	+171.90
Level	Major	-	Intermediate	Minor	Major

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	608.92	616.58	628.17	635.83	647.42	655.08	666.67
Camarilla	634.46	636.22	637.99	639.75	641.52	643.28	645.04
Woodie	610.88	617.56	630.13	636.81	649.38	656.06	668.63
Fibonacci	616.58	623.94	628.48	635.83	643.19	647.73	655.08

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	564.33	588.17	613.58	637.42	662.83	686.67	712.08
Camarilla	625.46	629.97	634.49	639.00	643.52	648.03	652.54
Woodie	565.13	588.56	614.38	637.81	663.63	687.06	712.88
Fibonacci	588.17	606.98	618.60	637.42	656.23	667.85	686.67

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	461.42	554.83	616.67	710.08	771.92	865.33	927.17
Camarilla	635.81	650.04	664.27	678.50	692.73	706.96	721.19
Woodie	445.63	546.94	600.88	702.19	756.13	857.44	911.38
Fibonacci	554.83	614.14	650.78	710.08	769.39	806.03	865.33

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):	42.10
MACD (12,26,9):	-18.9300
Directional Movement:	-3.12
AROON (14):	-57.15
DEMA (21):	630.23
Parabolic SAR (0,02-0,02-0,2):	643.50
Elder Ray (13):	-8.95
Super Trend (3,10):	695.70
Zig ZAG (10):	635.25
VORTEX (21):	0.7800
Stochastique (14,3,5):	28.42
TEMA (21):	618.40
Williams %R (14):	-70.51
Chande Momentum Oscillator (20):	-47.50
Repulse (5,40,3):	-0.1000
ROCnROLL:	2
TRIX (15,9):	-0.3800
Courbe Coppock:	14.41

MA7:	629.43
MA20:	654.84
MA50:	691.49
MA100:	686.44
MAexp7:	634.81
MAexp20:	653.90
MAexp50:	675.63
MAexp100:	698.16
Price / MA7:	+0.73%
Price / MA20:	-3.18%
Price / MA50:	-8.31%
Price / MA100:	-7.64%
Price / MAexp7:	-0.13%
Price / MAexp20:	-3.04%
Price / MAexp50:	-6.16%
Price / MAexp100:	-9.19%

Quotes : - 10 min delayed data - CBOT Futures

News

The latest news and videos published on WHEAT at the time of the analysis were as follows:

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

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