LUMBER - 1H - Technical analysis published on 08/02/2021 (GMT)
- 282
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
61%
6%
33%
My opinion
Neutral between 616.1 USD and 639.0 USD
My targets
-
My analysis
The basic trend is slightly bearish and the short term is tentatively bullish. With such a pattern, it is difficult to favour buying or selling. The first resistance is located at 639.0 USD. The first support is located at 616.1 USD. Without a basic trend, it is be important to monitor the price reaction at the first levels of resistance or support. A bullish break in resistance could quickly reverse the basic trend. A bearish break in the support would be welcome to boost the slightly bearish basic trend. On the other hand, if the price is blocked by resistance or support, it could be attractive to trade against the trend on the last short-term movement registered by LUMBER.
Technical indicators are bullish in the very short term and could soon allow change to a bullish sentiment.
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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
The LUMBER price is 622.2 USD. On the day, this instrument gained +1.90% with the lowest point at 601.1 USD and the highest point at 634.3 USD. The deviation from the price is +3.51% for the low point and -1.91% for the high point.601.1
634.3
622.2
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of LUMBER indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages could cause a reversal of the trend. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 500.0 | 537.6 | 580.1 | 622.2 | 639.0 | 698.0 | 771.6 |
| Change (%) | -19.64% | -13.60% | -6.77% | - | +2.70% | +12.18% | +24.01% |
| Change | -122.2 | -84.6 | -42.1 | - | +16.8 | +75.8 | +149.4 |
| Level | Intermediate | Major | Minor | - | Major | Major | 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 | 542.1 | 567.5 | 589.1 | 614.5 | 636.1 | 661.5 | 683.1 |
| Camarilla | 597.7 | 602.0 | 606.3 | 610.6 | 614.9 | 619.2 | 623.5 |
| Woodie | 540.1 | 566.6 | 587.1 | 613.6 | 634.1 | 660.6 | 681.1 |
| Fibonacci | 567.5 | 585.5 | 596.6 | 614.5 | 632.5 | 643.6 | 661.5 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 332.3 | 416.1 | 532.3 | 616.1 | 732.3 | 816.1 | 932.3 |
| Camarilla | 593.4 | 611.7 | 630.1 | 648.4 | 666.7 | 685.1 | 703.4 |
| Woodie | 348.4 | 424.2 | 548.4 | 624.2 | 748.4 | 824.2 | 948.4 |
| Fibonacci | 416.1 | 492.5 | 539.7 | 616.1 | 692.5 | 739.7 | 816.1 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -170.6 | 262.6 | 513.5 | 946.7 | 1,197.6 | 1,630.8 | 1,881.7 |
| Camarilla | 576.2 | 638.9 | 701.6 | 764.3 | 827.0 | 889.7 | 952.4 |
| Woodie | -261.9 | 217.0 | 422.3 | 901.1 | 1,106.4 | 1,585.2 | 1,790.5 |
| Fibonacci | 262.6 | 524.0 | 685.4 | 946.7 | 1,208.1 | 1,369.5 | 1,630.8 |
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): | 52.50 | |
| MACD (12,26,9): | -7.8000 | |
| Directional Movement: | 2.1 | |
| AROON (14): | -57.1 | |
| DEMA (21): | 585.4 | |
| Parabolic SAR (0,02-0,02-0,2): | 544.5 | |
| Elder Ray (13): | 15.6 | |
| Super Trend (3,10): | 610.7 | |
| Zig ZAG (10): | 603.1 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 61.50 | |
| TEMA (21): | 577.9 | |
| Williams %R (14): | -23.90 | |
| Chande Momentum Oscillator (20): | 21.1 | |
| Repulse (5,40,3): | 4.4000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2000 | |
| Courbe Coppock: | 12.50 |
| MA7: | 604.5 | |
| MA20: | 664.8 | |
| MA50: | 942.9 | |
| MA100: | 1,064.2 | |
| MAexp7: | 587.8 | |
| MAexp20: | 594.6 | |
| MAexp50: | 605.8 | |
| MAexp100: | 644.0 | |
| Price / MA7: | +2.93% | |
| Price / MA20: | -6.41% | |
| Price / MA50: | -34.01% | |
| Price / MA100: | -41.53% | |
| Price / MAexp7: | +5.85% | |
| Price / MAexp20: | +4.64% | |
| Price / MAexp50: | +2.71% | |
| Price / MAexp100: | -3.39% |
Quotes :
-
10 min delayed data
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CME Globex Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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