SOYBEAN - 1H - Technical analysis published on 09/10/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
17%
33%
50%
My opinion
Bullish above 966.40 USD
My targets
986.00 USD (+1.00%)
1,008.50 USD (+3.30%)
My analysis
The basic bullish trend is very strong on SOYBEAN but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 966.40 USD. Crossing the first resistance at 986.00 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 1,008.50 USD as an objective. Crossing it would then enable buyers to target 1,043.25 USD. Caution, a return to below 966.40 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
3.8
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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 976.25 USD. On the day, this instrument lost -0.26% with the lowest point at 975.00 USD and the highest point at 980.00 USD. The deviation from the price is +0.13% for the low point and -0.38% for the high point.975.00
980.00
976.25
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of SOYBEAN indicates that the overall trend is strongly bullish. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 3 are bullish, 9 are neutral and 6 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 955.50 | 966.40 | 976.06 | 976.25 | 986.00 | 1,008.50 | 1,043.25 |
| Change (%) | -2.13% | -1.01% | -0.02% | - | +1.00% | +3.30% | +6.86% |
| Change | -20.75 | -9.85 | -0.19 | - | +9.75 | +32.25 | +67.00 |
| Level | Major | Major | Minor | - | Minor | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 972.08 | 974.17 | 975.83 | 977.92 | 979.58 | 981.67 | 983.33 |
| Camarilla | 976.47 | 976.81 | 977.16 | 977.50 | 977.84 | 978.19 | 978.53 |
| Woodie | 971.88 | 974.06 | 975.63 | 977.81 | 979.38 | 981.56 | 983.13 |
| Fibonacci | 974.17 | 975.60 | 976.48 | 977.92 | 979.35 | 980.23 | 981.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 924.58 | 933.67 | 951.33 | 960.42 | 978.08 | 987.17 | 1,004.83 |
| Camarilla | 961.64 | 964.10 | 966.55 | 969.00 | 971.45 | 973.90 | 976.36 |
| Woodie | 928.88 | 935.81 | 955.63 | 962.56 | 982.38 | 989.31 | 1,009.13 |
| Fibonacci | 933.67 | 943.89 | 950.20 | 960.42 | 970.64 | 976.95 | 987.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 789.58 | 827.42 | 891.08 | 928.92 | 992.58 | 1,030.42 | 1,094.08 |
| Camarilla | 926.84 | 936.14 | 945.45 | 954.75 | 964.05 | 973.36 | 982.66 |
| Woodie | 802.50 | 833.88 | 904.00 | 935.38 | 1,005.50 | 1,036.88 | 1,107.00 |
| Fibonacci | 827.42 | 866.19 | 890.14 | 928.92 | 967.69 | 991.64 | 1,030.42 |
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): | 51.28 | |
| MACD (12,26,9): | 0.9600 | |
| Directional Movement: | 7.73 | |
| AROON (14): | 7.15 | |
| DEMA (21): | 977.52 | |
| Parabolic SAR (0,02-0,02-0,2): | 981.24 | |
| Elder Ray (13): | -0.02 | |
| Super Trend (3,10): | 970.11 | |
| Zig ZAG (10): | 975.75 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 28.43 | |
| TEMA (21): | 977.09 | |
| Williams %R (14): | -67.65 | |
| Chande Momentum Oscillator (20): | -2.00 | |
| Repulse (5,40,3): | -0.1300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.13 |
| MA7: | 974.32 | |
| MA20: | 946.84 | |
| MA50: | 912.73 | |
| MA100: | 886.88 | |
| MAexp7: | 976.27 | |
| MAexp20: | 975.96 | |
| MAexp50: | 973.19 | |
| MAexp100: | 967.69 | |
| Price / MA7: | +0.20% | |
| Price / MA20: | +3.11% | |
| Price / MA50: | +6.96% | |
| Price / MA100: | +10.08% | |
| Price / MAexp7: | +0.00% | |
| Price / MAexp20: | +0.03% | |
| Price / MAexp50: | +0.31% | |
| Price / MAexp100: | +0.88% |
Quotes :
2020-09-10 10:13:54
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15 min delayed data
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CBOT Futures
News
The latest news and videos published on SOYBEAN at the time of the analysis were 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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