WHEAT ONLY0721 - Daily - Technical analysis published on 06/03/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
WHEAT ONLY0721 Chart
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 670.50 USD
My targets
718.00 USD (+3.76%)
739.50 USD (+6.86%)
My analysis
The basic bullish trend is very strong on WHEAT ONLY0721 but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 670.50 USD. Crossing the first resistance at 718.00 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 739.50 USD as an objective. Crossing it would then enable buyers to target 761.75 USD. Caution, a return to below 670.50 USD would be a sign of a consolidation phase in the short-term basic trend. 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.7
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This analysis was given by SuperLubeCrude.
Additional analysis
Quotes
The WHEAT ONLY0721 rating is 692.00 USD. The price has increased by +0.66% since the last closing and was traded between 688.25 USD and 694.25 USD over the period. The price is currently at +0.54% from its lowest and -0.32% from its highest.688.25
694.25
692.00
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in Daily of this WHEAT ONLY0721 chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Williams %R indicator is back over -50
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:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 599.75 | 621.00 | 670.50 | 692.00 | 718.00 | 739.50 | 761.75 |
| Change (%) | -13.33% | -10.26% | -3.11% | - | +3.76% | +6.86% | +10.08% |
| Change | -92.25 | -71.00 | -21.50 | - | +26.00 | +47.50 | +69.75 |
| Level | Intermediate | Minor | Major | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 658.83 | 670.17 | 678.83 | 690.17 | 698.83 | 710.17 | 718.83 |
| Camarilla | 682.00 | 683.83 | 685.67 | 687.50 | 689.33 | 691.17 | 693.00 |
| Woodie | 657.50 | 669.50 | 677.50 | 689.50 | 697.50 | 709.50 | 717.50 |
| Fibonacci | 670.17 | 677.81 | 682.53 | 690.17 | 697.81 | 702.53 | 710.17 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 601.83 | 620.67 | 642.08 | 660.92 | 682.33 | 701.17 | 722.58 |
| Camarilla | 652.43 | 656.12 | 659.81 | 663.50 | 667.19 | 670.88 | 674.57 |
| Woodie | 603.13 | 621.31 | 643.38 | 661.56 | 683.63 | 701.81 | 723.88 |
| Fibonacci | 620.67 | 636.04 | 645.54 | 660.92 | 676.29 | 685.79 | 701.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 504.83 | 572.17 | 632.83 | 700.17 | 760.83 | 828.17 | 888.83 |
| Camarilla | 658.30 | 670.03 | 681.77 | 693.50 | 705.23 | 716.97 | 728.70 |
| Woodie | 501.50 | 570.50 | 629.50 | 698.50 | 757.50 | 826.50 | 885.50 |
| Fibonacci | 572.17 | 621.06 | 651.27 | 700.17 | 749.06 | 779.27 | 828.17 |
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): | 51.65 | |
| MACD (12,26,9): | -3.8500 | |
| Directional Movement: | 4.98 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 684.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 702.00 | |
| Elder Ray (13): | 7.02 | |
| Super Trend (3,10): | 716.29 | |
| Zig ZAG (10): | 692.50 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 53.80 | |
| TEMA (21): | 672.61 | |
| Williams %R (14): | -37.17 | |
| Chande Momentum Oscillator (20): | -7.25 | |
| Repulse (5,40,3): | 1.1200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 12.85 |
| MA7: | 674.07 | |
| MA20: | 696.62 | |
| MA50: | 676.14 | |
| MA100: | 658.45 | |
| MAexp7: | 682.25 | |
| MAexp20: | 687.13 | |
| MAexp50: | 679.65 | |
| MAexp100: | 660.34 | |
| Price / MA7: | +2.66% | |
| Price / MA20: | -0.66% | |
| Price / MA50: | +2.35% | |
| Price / MA100: | +5.10% | |
| Price / MAexp7: | +1.43% | |
| Price / MAexp20: | +0.71% | |
| Price / MAexp50: | +1.82% | |
| Price / MAexp100: | +4.79% |
Quotes :
-
10 min delayed data
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CBOT Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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