Londinia Opportunities Analyses - 06/08/2023 (GMT) SOYBEAN MEAL FULL0724 - 1H
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USD
(-)
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10 min delayed data - CBOT Futures
| Type: | Futures |
| Ticker: | ZMXXXX |
| ISIN: | ZMXXXX |
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
- FX/Indices
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
11%
22%
My opinion
Bullish above 399.7 USD
My targets
410.6 USD (+1.66%)
413.3 USD (+2.33%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SOYBEAN MEAL FULL0723 as long as the price remains well above 399.7 USD. The buyers' bullish objective is set at 410.6 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 413.3 USD. If there is any crossing, the next objective would be the resistance located at 429.5 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
0
10
7.9
Analysis too old. There are no more charts available.
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Additional analysis
Quotes
The SOYBEAN MEAL FULL0723 price is 403.9 USD. The price registered a decrease of -0.32% on the session and was between 401.0 USD and 404.7 USD. This implies that the price is at +0.72% from its lowest and at -0.20% from its highest.401.0
404.7
403.9
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
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 this 1H chart of SOYBEAN MEAL FULL0723 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of these bearish patterns in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term were also noted
Bearish harami
Type : Bearish
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 386.3 | 396.2 | 399.7 | 403.9 | 404.3 | 410.6 | 413.3 |
| Change (%) | -4.36% | -1.91% | -1.04% | - | +0.10% | +1.66% | +2.33% |
| Change | -17.6 | -7.7 | -4.2 | - | +0.4 | +6.7 | +9.4 |
| Level | Minor | Major | Minor | - | Major | Minor | Minor |
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 | 389.2 | 392.7 | 398.9 | 402.4 | 408.6 | 412.1 | 418.3 |
| Camarilla | 402.5 | 403.4 | 404.3 | 405.2 | 406.1 | 407.0 | 407.9 |
| Woodie | 390.7 | 393.4 | 400.4 | 403.1 | 410.1 | 412.8 | 419.8 |
| Fibonacci | 392.7 | 396.4 | 398.7 | 402.4 | 406.1 | 408.4 | 412.1 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 369.8 | 378.1 | 387.9 | 396.2 | 406.0 | 414.3 | 424.1 |
| Camarilla | 392.8 | 394.5 | 396.1 | 397.8 | 399.5 | 401.1 | 402.8 |
| Woodie | 370.7 | 378.5 | 388.8 | 396.6 | 406.9 | 414.7 | 425.0 |
| Fibonacci | 378.1 | 385.0 | 389.3 | 396.2 | 403.1 | 407.4 | 414.3 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 321.7 | 354.0 | 377.7 | 410.0 | 433.7 | 466.0 | 489.7 |
| Camarilla | 386.0 | 391.1 | 396.3 | 401.4 | 406.5 | 411.7 | 416.8 |
| Woodie | 317.4 | 351.9 | 373.4 | 407.9 | 429.4 | 463.9 | 485.4 |
| Fibonacci | 354.0 | 375.4 | 388.6 | 410.0 | 431.4 | 444.6 | 466.0 |
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): | 58.60 | |
| MACD (12,26,9): | 0.8000 | |
| Directional Movement: | 7.4 | |
| AROON (14): | 35.7 | |
| DEMA (21): | 402.6 | |
| Parabolic SAR (0,02-0,02-0,2): | 405.3 | |
| Elder Ray (13): | 1.0 | |
| Super Trend (3,10): | 398.1 | |
| Zig ZAG (10): | 403.8 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 65.60 | |
| TEMA (21): | 403.3 | |
| Williams %R (14): | -23.50 | |
| Chande Momentum Oscillator (20): | -0.7 | |
| Repulse (5,40,3): | 0.7000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 1.40 |
| MA7: | 400.0 | |
| MA20: | 407.7 | |
| MA50: | 428.4 | |
| MA100: | 447.6 | |
| MAexp7: | 402.7 | |
| MAexp20: | 401.6 | |
| MAexp50: | 400.8 | |
| MAexp100: | 400.4 | |
| Price / MA7: | +0.97% | |
| Price / MA20: | -0.93% | |
| Price / MA50: | -5.72% | |
| Price / MA100: | -9.76% | |
| Price / MAexp7: | +0.30% | |
| Price / MAexp20: | +0.57% | |
| Price / MAexp50: | +0.77% | |
| Price / MAexp100: | +0.87% |
Quotes :
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10 min delayed data
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Futures CBOT