SOYBEAN - 1H - Technical analysis published on 12/08/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 1,249.00 USD
My targets
1,232.75 USD (-0.52%)
1,214.25 USD (-2.02%)
My analysis
SOYBEAN 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 1,249.00 USD. The next support located at 1,232.75 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 1,214.25 USD. Below this support, sellers could then target 1,172.00 USD.
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
0
10
6.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOYBEAN rating 1,239.25 USD. The price registered a decrease of -0.88% on the session and was traded between 1,238.25 USD and 1,252.50 USD over the period. The price is currently at +0.08% from its lowest and -1.06% from its highest.1,238.25
1,252.50
1,239.25
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN in 1H shows an overall bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are bearish. There is still some doubt about the decline in the price.
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
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,172.00 | 1,214.25 | 1,232.75 | 1,239.25 | 1,240.25 | 1,249.00 | 1,254.50 |
| Change (%) | -5.43% | -2.02% | -0.52% | - | +0.08% | +0.79% | +1.23% |
| Change | -67.25 | -25.00 | -6.50 | - | +1.00 | +9.75 | +15.25 |
| Level | Major | Major | Minor | - | Minor | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,213.83 | 1,228.42 | 1,239.33 | 1,253.92 | 1,264.83 | 1,279.42 | 1,290.33 |
| Camarilla | 1,243.24 | 1,245.58 | 1,247.91 | 1,250.25 | 1,252.59 | 1,254.93 | 1,257.26 |
| Woodie | 1,212.00 | 1,227.50 | 1,237.50 | 1,253.00 | 1,263.00 | 1,278.50 | 1,288.50 |
| Fibonacci | 1,228.42 | 1,238.16 | 1,244.18 | 1,253.92 | 1,263.66 | 1,269.68 | 1,279.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,175.25 | 1,194.75 | 1,231.00 | 1,250.50 | 1,286.75 | 1,306.25 | 1,342.50 |
| Camarilla | 1,251.92 | 1,257.03 | 1,262.14 | 1,267.25 | 1,272.36 | 1,277.47 | 1,282.58 |
| Woodie | 1,183.63 | 1,198.94 | 1,239.38 | 1,254.69 | 1,295.13 | 1,310.44 | 1,350.88 |
| Fibonacci | 1,194.75 | 1,216.05 | 1,229.20 | 1,250.50 | 1,271.80 | 1,284.95 | 1,306.25 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,068.58 | 1,124.92 | 1,176.58 | 1,232.92 | 1,284.58 | 1,340.92 | 1,392.58 |
| Camarilla | 1,198.55 | 1,208.45 | 1,218.35 | 1,228.25 | 1,238.15 | 1,248.05 | 1,257.95 |
| Woodie | 1,066.25 | 1,123.75 | 1,174.25 | 1,231.75 | 1,282.25 | 1,339.75 | 1,390.25 |
| Fibonacci | 1,124.92 | 1,166.17 | 1,191.66 | 1,232.92 | 1,274.17 | 1,299.66 | 1,340.92 |
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): | 31.31 | |
| MACD (12,26,9): | -4.4700 | |
| Directional Movement: | -18.70 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 1,241.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,245.85 | |
| Elder Ray (13): | -5.34 | |
| Super Trend (3,10): | 1,251.22 | |
| Zig ZAG (10): | 1,239.50 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 6.32 | |
| TEMA (21): | 1,239.24 | |
| Williams %R (14): | -93.33 | |
| Chande Momentum Oscillator (20): | -12.50 | |
| Repulse (5,40,3): | -0.3100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 1.48 |
| MA7: | 1,244.11 | |
| MA20: | 1,250.64 | |
| MA50: | 1,241.18 | |
| MA100: | 1,279.97 | |
| MAexp7: | 1,242.77 | |
| MAexp20: | 1,247.53 | |
| MAexp50: | 1,251.74 | |
| MAexp100: | 1,251.68 | |
| Price / MA7: | -0.39% | |
| Price / MA20: | -0.91% | |
| Price / MA50: | -0.16% | |
| Price / MA100: | -3.18% | |
| Price / MAexp7: | -0.28% | |
| Price / MAexp20: | -0.66% | |
| Price / MAexp50: | -1.00% | |
| Price / MAexp100: | -0.99% |
Quotes :
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10 min delayed data
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CBOT Futures
News
Don't forget to follow the news on SOYBEAN. At the time of publication of this analysis, the latest news was as follows:
-
Ahead Of Trump-Xi Meeting, USDA Announces Huge Soybean Sale To China
-
Soybean farmer: We would like to have markets, not aid
-
Impact of tariffs on America's soybean farmers
-
Will Trump's Truce With China Help Soybean Sales?
-
U.S. Trade Gap Hits 10-Year High In October As Soybean Exports Continue To Fall
This member declared not having a position on this financial instrument or a related financial instrument.
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