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SOYBEAN
SOYBEAN
- USD (-)
- 10 min delayed data - CBOT Futures
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: SOY
ISIN:

SOYBEAN - 1H - Technical analysis published on 05/20/2024 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Neutral
Underlying: Bullish
Technical indicators
22%
33%
44%
My opinion
Bullish above 1,218.95 USD
My targets
1,232.25 USD (+0.63%)
1,239.93 USD (+1.26%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 1,218.95 USD remains possible. It is advisable to trade SOYBEAN with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1,218.95 USD. The next bullish objective for buyers is set at 1,232.25 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,239.93 USD. If there is any crossing, the next objective would be the resistance located at 1,248.00 USD. PS: if there is a bearish break in the support located at 1,218.95 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
2.1

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Barts_XV
This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The SOYBEAN price is 1,224.50 USD. The price is lower by -0.29% since the last closing with the lowest point at 1,224.25 USD and the highest point at 1,230.50 USD. The deviation from the price is +0.02% for the low point and -0.49% for the high point.

1,224.25
1,230.50
1,224.50

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.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner, which identifies the highest / lowest, has detected an element:

Central Records

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in 1H of this SOYBEAN chart shows a bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. An assessment of moving averages reveals a bearish signal that could impact this trend:

Central Indicators

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour



The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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


S3S2S1PriceR1R2R3
ProTrendLines 1,160.67 1,209.83 1,218.95 1,224.50 1,226.80 1,232.25 1,239.93
Change (%) -5.21% -1.20% -0.45% - +0.19% +0.63% +1.26%
Change -63.83 -14.67 -5.55 - +2.30 +7.75 +15.43
Level Major Major Minor - Major Intermediate Intermediate



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
Standard1,202.421,208.831,218.421,224.831,234.421,240.831,250.42
Camarilla1,223.601,225.071,226.531,228.001,229.471,230.931,232.40
Woodie1,204.001,209.631,220.001,225.631,236.001,241.631,252.00
Fibonacci1,208.831,214.951,218.721,224.831,230.951,234.721,240.83


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1,181.501,192.501,210.251,221.251,239.001,250.001,267.75
Camarilla1,220.091,222.731,225.371,228.001,230.641,233.271,235.91
Woodie1,184.881,194.191,213.631,222.941,242.381,251.691,271.13
Fibonacci1,192.501,203.481,210.271,221.251,232.231,239.021,250.00


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard1,069.751,107.751,139.001,177.001,208.251,246.251,277.50
Camarilla1,151.211,157.551,163.901,170.251,176.601,182.951,189.29
Woodie1,066.381,106.061,135.631,175.311,204.881,244.561,274.13
Fibonacci1,107.751,134.201,150.551,177.001,203.451,219.801,246.25

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): 50.45
MACD (12,26,9): 1.3600
Directional Movement: 4.65
AROON (14): 14.28
DEMA (21): 1,227.28
Parabolic SAR (0,02-0,02-0,2): 1,220.40
Elder Ray (13): -1.10
Super Trend (3,10): 1,219.47
Zig ZAG (10): 1,224.25
VORTEX (21): 1.0000
Stochastique (14,3,5): 48.98
TEMA (21): 1,226.81
Williams %R (14): -57.14
Chande Momentum Oscillator (20): -2.25
Repulse (5,40,3): -0.1800
ROCnROLL: -1
TRIX (15,9): 0.0200
Courbe Coppock: 0.27
MA7: 1,219.32
MA20: 1,205.83
MA50: 1,199.56
MA100: 1,210.23
MAexp7: 1,225.74
MAexp20: 1,225.13
MAexp50: 1,222.23
MAexp100: 1,219.77
Price / MA7: +0.42%
Price / MA20: +1.55%
Price / MA50: +2.08%
Price / MA100: +1.18%
Price / MAexp7: -0.10%
Price / MAexp20: -0.05%
Price / MAexp50: +0.19%
Price / MAexp100: +0.39%

Quotes : - 10 min delayed data - 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:

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia
Londinia AI

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