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 09/24/2024 (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
999.00 USD (-4.15%)
912.85 USD (-12.42%)
My analysis
The bearish trend is currently very strong for SOYBEAN. As long as the price remains below the resistance at 1,096.00 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 999.00 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 912.85 USD as an objective. Crossing it would then enable sellers to target 824.25 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.

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 1,042.25 USD. The price registered an increase of +3.60% over 5 days with the lowest point at 1,001.25 USD and the highest point at 1,058.25 USD. The deviation from the price is +4.09% for the low point and -1.51% for the high point.

1,001.25
1,058.25
1,042.25

A study of price movements over other periods shows the following variations:

Technical


A technical analysis in Weekly of this SOYBEAN chart shows a sharp 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.

The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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


S3S2S1PriceR1R2R3
ProTrendLines 824.25 912.85 1,032.50 1,042.25 1,096.00 1,186.85 1,266.75
Change (%) -20.92% -12.42% -0.94% - +5.16% +13.87% +21.54%
Change -218.00 -129.40 -9.75 - +53.75 +144.60 +224.50
Level Minor Major Intermediate - Major Major Minor



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard990.501,001.251,020.251,031.001,050.001,060.751,079.75
Camarilla1,031.071,033.801,036.521,039.251,041.981,044.701,047.43
Woodie994.631,003.311,024.381,033.061,054.131,062.811,083.88
Fibonacci1,001.251,012.621,019.641,031.001,042.371,049.391,060.75


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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 44.40
MACD (12,26,9): -41.2000
Directional Movement: -0.72
AROON (14): -42.85
DEMA (21): 995.19
Parabolic SAR (0,02-0,02-0,2): 955.00
Elder Ray (13): 4.56
Super Trend (3,10): 1,089.62
Zig ZAG (10): 1,042.75
VORTEX (21): 0.8700
Stochastique (14,3,5): 38.28
TEMA (21): 990.30
Williams %R (14): -47.69
Chande Momentum Oscillator (20): -76.50
Repulse (5,40,3): 3.2400
ROCnROLL: -1
TRIX (15,9): -0.5700
Courbe Coppock: 20.32
MA7: 1,018.82
MA20: 1,009.75
MA50: 1,011.06
MA100: 1,068.11
MAexp7: 1,017.41
MAexp20: 1,051.51
MAexp50: 1,123.06
MAexp100: 1,151.96
Price / MA7: +2.30%
Price / MA20: +3.22%
Price / MA50: +3.08%
Price / MA100: -2.42%
Price / MAexp7: +2.44%
Price / MAexp20: -0.88%
Price / MAexp50: -7.20%
Price / MAexp100: -9.52%

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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