CLASS III MILK - 1H - Technical analysis published on 02/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 17.21 USD
My targets
18.13 USD (+2.20%)
18.55 USD (+4.57%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CLASS III MILK as long as the price remains well above 17.21 USD. The buyers' bullish objective is set at 18.13 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 18.55 USD. If there is any crossing, the next objective would be the resistance located at 19.37 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, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8
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Additional analysis
Quotes
The CLASS III MILK rating is 17.74 USD. The price is lower by -0.17% since the last closing and was traded between 17.73 USD and 17.74 USD over the period. The price is currently at +0.06% from its lowest and 0% from its highest.17.73
17.74
17.74
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
Here is a more detailed summary of the historical variations registered by CLASS III MILK:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CLASS III MILK chart shows a strongly bullish trend. 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 scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | R1 | Price | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.58 | 16.78 | 17.18 | 17.74 | 17.74 | 18.13 | 18.55 |
| Change (%) | -6.54% | -5.41% | -3.16% | 0% | - | +2.20% | +4.57% |
| Change | -1.16 | -0.96 | -0.56 | 0 | - | +0.39 | +0.81 |
| Level | Minor | Minor | Minor | Major | - | Intermediate | 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 | 16.81 | 17.02 | 17.39 | 17.60 | 17.97 | 18.18 | 18.55 |
| Camarilla | 17.61 | 17.66 | 17.72 | 17.77 | 17.82 | 17.88 | 17.93 |
| Woodie | 16.90 | 17.06 | 17.48 | 17.64 | 18.06 | 18.22 | 18.64 |
| Fibonacci | 17.02 | 17.24 | 17.38 | 17.60 | 17.82 | 17.96 | 18.18 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.31 | 15.89 | 16.63 | 17.21 | 17.95 | 18.53 | 19.27 |
| Camarilla | 17.02 | 17.14 | 17.26 | 17.38 | 17.50 | 17.62 | 17.74 |
| Woodie | 15.40 | 15.93 | 16.72 | 17.25 | 18.04 | 18.57 | 19.36 |
| Fibonacci | 15.89 | 16.39 | 16.70 | 17.21 | 17.71 | 18.02 | 18.53 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 14.95 | 15.50 | 16.51 | 17.06 | 18.07 | 18.62 | 19.63 |
| Camarilla | 17.09 | 17.23 | 17.38 | 17.52 | 17.66 | 17.81 | 17.95 |
| Woodie | 15.18 | 15.62 | 16.74 | 17.18 | 18.30 | 18.74 | 19.86 |
| Fibonacci | 15.50 | 16.10 | 16.46 | 17.06 | 17.66 | 18.02 | 18.62 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 64.59 | |
| MACD (12,26,9): | 0.1100 | |
| Directional Movement: | 6.82 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 17.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 17.40 | |
| Elder Ray (13): | 0.09 | |
| Super Trend (3,10): | 17.49 | |
| Zig ZAG (10): | 17.74 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 89.88 | |
| TEMA (21): | 17.75 | |
| Williams %R (14): | -10.34 | |
| Chande Momentum Oscillator (20): | 0.36 | |
| Repulse (5,40,3): | -0.0200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0800 | |
| Courbe Coppock: | 2.80 |
| MA7: | 17.32 | |
| MA20: | 16.72 | |
| MA50: | 16.72 | |
| MA100: | 17.45 | |
| MAexp7: | 17.71 | |
| MAexp20: | 17.60 | |
| MAexp50: | 17.37 | |
| MAexp100: | 17.09 | |
| Price / MA7: | +2.42% | |
| Price / MA20: | +6.10% | |
| Price / MA50: | +6.10% | |
| Price / MA100: | +1.66% | |
| Price / MAexp7: | +0.17% | |
| Price / MAexp20: | +0.80% | |
| Price / MAexp50: | +2.13% | |
| Price / MAexp100: | +3.80% |
Quotes :
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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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