SOYBEAN
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 09/23/2024 (GMT)

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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
44%
17%
39%
My opinion
Bearish under 1,096.00 USD
My targets
956.00 USD (-8.01%)
912.85 USD (-12.16%)
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 in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
5.2

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This analysis was given by farmpro. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Daily

Additional analysis

Quotes

SOYBEAN rating 1,039.25 USD. Over 5 days, this instrument gained +3.46% and has been traded over the last 5 days between 1,001.25 USD and 1,041.75 USD. This implies that the 5 day price is +3.80% from its lowest point and -0.24% from its highest point.

1,001.25
1,041.75
1,039.25

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

Technical


Technical analysis of this Weekly chart of SOYBEAN indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being 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, only 8 technical indicators out of 18 studied are currently positioned bullish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 824.25 912.85 1,032.50 1,039.25 1,096.00 1,186.85 1,266.75
Change (%) -20.69% -12.16% -0.65% - +5.46% +14.20% +21.89%
Change -215.00 -126.40 -6.75 - +56.75 +147.60 +227.50
Level Minor Major Major - Major Major Minor



Attention could also be paid to pivot points to set price objectives:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard984.75993.001,002.501,010.751,020.251,028.501,038.00
Camarilla1,007.121,008.751,010.371,012.001,013.631,015.251,016.88
Woodie985.38993.311,003.131,011.061,020.881,028.811,038.63
Fibonacci993.00999.781,003.971,010.751,017.531,021.721,028.50


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard977.00988.001,000.001,011.001,023.001,034.001,046.00
Camarilla1,005.681,007.781,009.891,012.001,014.111,016.221,018.33
Woodie977.50988.251,000.501,011.251,023.501,034.251,046.50
Fibonacci988.00996.791,002.211,011.001,019.791,025.211,034.00


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard869.00912.00956.00999.001,043.001,086.001,130.00
Camarilla976.08984.05992.031,000.001,007.981,015.951,023.93
Woodie869.50912.25956.50999.251,043.501,086.251,130.50
Fibonacci912.00945.23965.77999.001,032.231,052.771,086.00

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): 43.64
MACD (12,26,9): -41.5000
Directional Movement: -3.88
AROON (14): -42.85
DEMA (21): 994.54
Parabolic SAR (0,02-0,02-0,2): 955.00
Elder Ray (13): -3.16
Super Trend (3,10): 1,089.62
Zig ZAG (10): 1,039.00
VORTEX (21): 0.8700
Stochastique (14,3,5): 37.54
TEMA (21): 989.37
Williams %R (14): -49.93
Chande Momentum Oscillator (20): -80.25
Repulse (5,40,3): 3.5900
ROCnROLL: -1
TRIX (15,9): -0.5700
Courbe Coppock: 20.44
MA7: 1,013.57
MA20: 1,006.92
MA50: 1,011.07
MA100: 1,069.56
MAexp7: 1,016.47
MAexp20: 1,051.15
MAexp50: 1,122.92
MAexp100: 1,151.89
Price / MA7: +2.53%
Price / MA20: +3.21%
Price / MA50: +2.79%
Price / MA100: -2.83%
Price / MAexp7: +2.24%
Price / MAexp20: -1.13%
Price / MAexp50: -7.45%
Price / MAexp100: -9.78%

Quotes : - 10 min delayed data - CBOT Futures

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

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