SOYBEAN

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	SOY
ISIN:

SOYBEAN - Weekly - Technical analysis published on 09/10/2024 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

39%

44%

17%

My opinion

Bearish under 1,096.00 USD

My targets

956.00 USD (-5.79%)

912.85 USD (-10.04%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SOYBEAN as long as the price remains well below 1,096.00 USD. The sellers' bearish objective is set at 956.00 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 912.85 USD. In case of crossing, the next objective would be the support located at 824.25 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

6.3

Comment on the analysis

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.

This analysis was given by farmpro. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SOYBEAN price is 1,014.75 USD. The price registered an increase of +1.58% over 5 days and has been traded over the last 5 days between 1,003.50 USD and 1,031.25 USD. This implies that the 5 day price is +1.12% from its lowest point and -1.60% from its highest point.

1,003.50

1,031.25

1,014.75

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of SOYBEAN in Weekly shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 3 are neutral and 8 are bearish. The Central Indicators scanner found this result concerning these indicators:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	636.25	824.25	912.85	1,014.75	1,032.50	1,096.00	1,186.85
Change (%)	-37.30%	-18.77%	-10.04%	-	+1.75%	+8.01%	+16.96%
Change	-378.50	-190.50	-101.90	-	+17.75	+81.25	+172.10
Level	Major	Major	Intermediate	-	Major	Major	Major

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	988.42	995.08	1,006.92	1,013.58	1,025.42	1,032.08	1,043.92
Camarilla	1,013.66	1,015.36	1,017.05	1,018.75	1,020.45	1,022.14	1,023.84
Woodie	991.00	996.38	1,009.50	1,014.88	1,028.00	1,033.38	1,046.50
Fibonacci	995.08	1,002.15	1,006.52	1,013.58	1,020.65	1,025.02	1,032.08

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	953.75	974.50	989.75	1,010.50	1,025.75	1,046.50	1,061.75
Camarilla	995.10	998.40	1,001.70	1,005.00	1,008.30	1,011.60	1,014.90
Woodie	951.00	973.13	987.00	1,009.13	1,023.00	1,045.13	1,059.00
Fibonacci	974.50	988.25	996.75	1,010.50	1,024.25	1,032.75	1,046.50

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	869.00	912.00	956.00	999.00	1,043.00	1,086.00	1,130.00
Camarilla	976.08	984.05	992.03	1,000.00	1,007.98	1,015.95	1,023.93
Woodie	869.50	912.25	956.50	999.25	1,043.50	1,086.25	1,130.50
Fibonacci	912.00	945.23	965.77	999.00	1,032.23	1,052.77	1,086.00

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):	38.11
MACD (12,26,9):	-47.6600
Directional Movement:	-8.78
AROON (14):	-71.43
DEMA (21):	995.46
Parabolic SAR (0,02-0,02-0,2):	1,033.92
Elder Ray (13):	-21.54
Super Trend (3,10):	1,089.62
Zig ZAG (10):	1,015.00
VORTEX (21):	0.8800
Stochastique (14,3,5):	26.04
TEMA (21):	982.92
Williams %R (14):	-66.57
Chande Momentum Oscillator (20):	-85.00
Repulse (5,40,3):	1.0600
ROCnROLL:	2
TRIX (15,9):	-0.5600
Courbe Coppock:	23.62

MA7:	1,013.57
MA20:	989.69
MA50:	1,024.37
MA100:	1,080.59
MAexp7:	1,010.20
MAexp20:	1,057.54
MAexp50:	1,131.36
MAexp100:	1,157.27
Price / MA7:	+0.12%
Price / MA20:	+2.53%
Price / MA50:	-0.94%
Price / MA100:	-6.09%
Price / MAexp7:	+0.45%
Price / MAexp20:	-4.05%
Price / MAexp50:	-10.31%
Price / MAexp100:	-12.32%

Quotes : - 10 min delayed data - CBOT Futures

News

The last news published on SOYBEAN at the time of the generation of this analysis was as follows:

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

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