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

5.2

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

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

Price

	S3	S2	S1	Price	R1	R2	R3
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
Standard	984.75	993.00	1,002.50	1,010.75	1,020.25	1,028.50	1,038.00
Camarilla	1,007.12	1,008.75	1,010.37	1,012.00	1,013.63	1,015.25	1,016.88
Woodie	985.38	993.31	1,003.13	1,011.06	1,020.88	1,028.81	1,038.63
Fibonacci	993.00	999.78	1,003.97	1,010.75	1,017.53	1,021.72	1,028.50

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	977.00	988.00	1,000.00	1,011.00	1,023.00	1,034.00	1,046.00
Camarilla	1,005.68	1,007.78	1,009.89	1,012.00	1,014.11	1,016.22	1,018.33
Woodie	977.50	988.25	1,000.50	1,011.25	1,023.50	1,034.25	1,046.50
Fibonacci	988.00	996.79	1,002.21	1,011.00	1,019.79	1,025.21	1,034.00

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 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

News

The latest news and videos published on SOYBEAN at the time of the analysis were as follows:

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

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