SOYBEAN

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	SOY
ISIN:

SOYBEAN - Daily - Technical analysis published on 10/18/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

72%

17%

My opinion

Bearish under 1,011.00 USD

My targets

970.75 USD (-2.31%)

926.60 USD (-6.76%)

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 1,011.00 USD. The sellers' bearish objective is set at 970.75 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 926.60 USD. In case of crossing, the next objective would be the support located at 838.00 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 confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

7.7

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 Barts_XV. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SOYBEAN price is 993.75 USD. The price is lower by -0.43% since the last closing and was traded between 993.00 USD and 1,004.25 USD over the period. The price is currently at +0.08% from its lowest and -1.05% from its highest.

993.00

1,004.25

993.75

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by SOYBEAN:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this SOYBEAN chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 13 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

CCI indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is under support 2

Type : Neutral

Timeframe : Weekly

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	838.00	926.60	970.75	993.75	1,011.00	1,046.25	1,109.75
Change (%)	-15.67%	-6.76%	-2.31%	-	+1.74%	+5.28%	+11.67%
Change	-155.75	-67.15	-23.00	-	+17.25	+52.50	+116.00
Level	Minor	Major	Intermediate	-	Minor	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	965.58	973.17	985.58	993.17	1,005.58	1,013.17	1,025.58
Camarilla	992.50	994.33	996.17	998.00	999.83	1,001.67	1,003.50
Woodie	968.00	974.38	988.00	994.38	1,008.00	1,014.38	1,028.00
Fibonacci	973.17	980.81	985.53	993.17	1,000.81	1,005.53	1,013.17

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	971.42	994.58	1,006.92	1,030.08	1,042.42	1,065.58	1,077.92
Camarilla	1,009.49	1,012.74	1,016.00	1,019.25	1,022.50	1,025.76	1,029.01
Woodie	966.00	991.88	1,001.50	1,027.38	1,037.00	1,062.88	1,072.50
Fibonacci	994.58	1,008.14	1,016.52	1,030.08	1,043.64	1,052.02	1,065.58

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	951.00	980.00	1,025.50	1,054.50	1,100.00	1,129.00	1,174.50
Camarilla	1,050.51	1,057.34	1,064.17	1,071.00	1,077.83	1,084.66	1,091.49
Woodie	959.25	984.13	1,033.75	1,058.63	1,108.25	1,133.13	1,182.75
Fibonacci	980.00	1,008.46	1,026.04	1,054.50	1,082.96	1,100.54	1,129.00

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):	34.74
MACD (12,26,9):	-9.4300
Directional Movement:	-11.83
AROON (14):	-92.86
DEMA (21):	1,015.96
Parabolic SAR (0,02-0,02-0,2):	1,042.03
Elder Ray (13):	-20.04
Super Trend (3,10):	1,047.39
Zig ZAG (10):	994.75
VORTEX (21):	0.9300
Stochastique (14,3,5):	10.72
TEMA (21):	1,005.12
Williams %R (14):	-86.55
Chande Momentum Oscillator (20):	-76.50
Repulse (5,40,3):	-1.7100
ROCnROLL:	2
TRIX (15,9):	-0.0100
Courbe Coppock:	10.29

MA7:	1,006.77
MA20:	1,039.73
MA50:	1,019.94
MA100:	1,056.04
MAexp7:	1,006.96
MAexp20:	1,024.63
MAexp50:	1,034.00
MAexp100:	1,059.66
Price / MA7:	-1.29%
Price / MA20:	-4.42%
Price / MA50:	-2.57%
Price / MA100:	-5.90%
Price / MAexp7:	-1.31%
Price / MAexp20:	-3.01%
Price / MAexp50:	-3.89%
Price / MAexp100:	-6.22%

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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