Londinia Opportunities Analyses - 06/15/2021 (GMT) WHEAT - 1H

- USD (-)

- 10 min delayed data - CBOT Futures

Type:	Commodities
Ticker:	WWY
ISIN:

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.

FX/Indices
Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 663.00 USD

My targets

650.25 USD (-1.10%)

633.00 USD (-3.73%)

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 663.00 USD. The next support located at 650.25 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 633.00 USD. Below this support, sellers could then target 601.75 USD. 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 confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

Analysis too old. There are no more charts available.

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Additional analysis

Quotes

The WHEAT price is 657.50 USD. The price is lower by -2.52% since the last closing and was between 657.00 USD and 676.25 USD. This implies that the price is at +0.08% from its lowest and at -2.77% from its highest.

657.00

676.25

657.50

A study of price movements over other periods shows the following variations:

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

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of WHEAT indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 13 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	601.75	633.00	657.00	657.50	663.00	669.28	678.50
Change (%)	-8.48%	-3.73%	-0.08%	-	+0.84%	+1.79%	+3.19%
Change	-55.75	-24.50	-0.50	-	+5.50	+11.78	+21.00
Level	Minor	Intermediate	Intermediate	-	Minor	Intermediate	Intermediate

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	637.00	647.00	660.75	670.75	684.50	694.50	708.25
Camarilla	667.97	670.15	672.32	674.50	676.68	678.85	681.03
Woodie	638.88	647.94	662.63	671.69	686.38	695.44	710.13
Fibonacci	647.00	656.07	661.68	670.75	679.82	685.43	694.50

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	631.00	650.25	665.50	684.75	700.00	719.25	734.50
Camarilla	671.26	674.43	677.59	680.75	683.91	687.08	690.24
Woodie	629.00	649.25	663.50	683.75	698.00	718.25	732.50
Fibonacci	650.25	663.43	671.57	684.75	697.93	706.07	719.25

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):	31.94
MACD (12,26,9):	-3.1300
Directional Movement:	-17.67
AROON (14):	-92.86
DEMA (21):	661.58
Parabolic SAR (0,02-0,02-0,2):	673.73
Elder Ray (13):	-5.88
Super Trend (3,10):	669.28
Zig ZAG (10):	657.75
VORTEX (21):	0.9700
Stochastique (14,3,5):	6.89
TEMA (21):	660.59
Williams %R (14):	-94.05
Chande Momentum Oscillator (20):	-11.50
Repulse (5,40,3):	-0.6700
ROCnROLL:	2
TRIX (15,9):	-0.0500
Courbe Coppock:	2.77

MA7:	677.71
MA20:	676.11
MA50:	686.41
MA100:	665.39
MAexp7:	661.48
MAexp20:	665.45
MAexp50:	670.27
MAexp100:	674.61
Price / MA7:	-2.98%
Price / MA20:	-2.75%
Price / MA50:	-4.21%
Price / MA100:	-1.19%
Price / MAexp7:	-0.60%
Price / MAexp20:	-1.19%
Price / MAexp50:	-1.91%
Price / MAexp100:	-2.54%

Quotes : - 10 min delayed data - Futures CBOT

News

The last news published on WHEAT at the time of the generation of this analysis was as follows: