WHEAT

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - 1H - Technical analysis published on 12/06/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

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WHEAT Chart

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

56%

11%

33%

My opinion

Bullish above 556.45 USD

My targets

564.50 USD (+0.89%)

571.25 USD (+2.10%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on WHEAT as long as the price remains well above 556.45 USD. The buyers' bullish objective is set at 564.50 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 571.25 USD. If there is any crossing, the next objective would be the resistance located at 577.47 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

7.5

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 Barts_XV.

Additional analysis

Quotes

WHEAT rating 559.50 USD. The price has increased by +0.22% since the last closing and was between 555.25 USD and 560.50 USD. This implies that the price is at +0.77% from its lowest and at -0.18% from its highest.

555.25

560.50

559.50

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

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

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

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 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

MACD indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

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

Aroon indicator bearish trend

Type : Bearish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	545.70	550.75	556.45	559.50	564.50	571.25	577.47
Change (%)	-2.47%	-1.56%	-0.55%	-	+0.89%	+2.10%	+3.21%
Change	-13.80	-8.75	-3.05	-	+5.00	+11.75	+17.97
Level	Minor	Minor	Intermediate	-	Major	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	534.42	540.08	549.17	554.83	563.92	569.58	578.67
Camarilla	554.19	555.55	556.90	558.25	559.60	560.95	562.31
Woodie	536.13	540.94	550.88	555.69	565.63	570.44	580.38
Fibonacci	540.08	545.72	549.20	554.83	560.47	563.95	569.58

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	512.33	527.67	537.83	553.17	563.33	578.67	588.83
Camarilla	540.99	543.33	545.66	548.00	550.34	552.68	555.01
Woodie	509.75	526.38	535.25	551.88	560.75	577.38	586.25
Fibonacci	527.67	537.41	543.43	553.17	562.91	568.93	578.67

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	473.40	508.20	528.10	562.90	582.80	617.60	637.50
Camarilla	532.96	537.97	542.99	548.00	553.01	558.03	563.04
Woodie	465.95	504.48	520.65	559.18	575.35	613.88	630.05
Fibonacci	508.20	529.10	542.01	562.90	583.80	596.71	617.60

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):	62.32
MACD (12,26,9):	1.9100
Directional Movement:	11.07
AROON (14):	14.29
DEMA (21):	559.17
Parabolic SAR (0,02-0,02-0,2):	560.39
Elder Ray (13):	0.67
Super Trend (3,10):	553.46
Zig ZAG (10):	559.00
VORTEX (21):	1.1700
Stochastique (14,3,5):	67.46
TEMA (21):	559.63
Williams %R (14):	-23.81
Chande Momentum Oscillator (20):	1.50
Repulse (5,40,3):	0.4200
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	0.75

MA7:	551.00
MA20:	558.79
MA50:	583.85
MA100:	582.04
MAexp7:	558.34
MAexp20:	556.49
MAexp50:	553.48
MAexp100:	552.81
Price / MA7:	+1.54%
Price / MA20:	+0.13%
Price / MA50:	-4.17%
Price / MA100:	-3.87%
Price / MAexp7:	+0.21%
Price / MAexp20:	+0.54%
Price / MAexp50:	+1.09%
Price / MAexp100:	+1.21%

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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