SOYBEAN

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	SOY
ISIN:

SOYBEAN - 1H - Technical analysis published on 10/18/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Bearish

Underlying: Strongly bearish

Technical indicators

17%

50%

33%

My opinion

Bearish under 1,011.00 USD

My targets

980.75 USD (-1.28%)

970.75 USD (-2.29%)

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 next bearish objective for sellers is set at 980.75 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 970.75 USD. If there is any crossing, the next objective would be the support located at 926.60 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

6.4

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

SOYBEAN rating 993.50 USD. The price registered a decrease of -0.45% on the session with the lowest point at 993.00 USD and the highest point at 1,004.25 USD. The deviation from the price is +0.05% for the low point and -1.07% for the high point.

993.00

1,004.25

993.50

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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

The Central Records scanner for higher/lower results shows the following items:

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 1H of this SOYBEAN chart shows a sharp bearish trend. The signals given by moving averages are 89.29% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : 1 hour

The probability of a further decline is low given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 2

Type : Neutral

Timeframe : Weekly

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : 1 hour

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	926.60	970.75	980.75	993.50	994.75	1,011.00	1,025.30
Change (%)	-6.73%	-2.29%	-1.28%	-	+0.13%	+1.76%	+3.20%
Change	-66.90	-22.75	-12.75	-	+1.25	+17.50	+31.80
Level	Major	Intermediate	Minor	-	Major	Minor	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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	45.81
MACD (12,26,9):	0.8700
Directional Movement:	-5.47
AROON (14):	-85.71
DEMA (21):	999.11
Parabolic SAR (0,02-0,02-0,2):	1,004.08
Elder Ray (13):	-3.17
Super Trend (3,10):	991.70
Zig ZAG (10):	995.00
VORTEX (21):	1.1100
Stochastique (14,3,5):	26.63
TEMA (21):	1,000.55
Williams %R (14):	-93.33
Chande Momentum Oscillator (20):	-10.00
Repulse (5,40,3):	-0.9000
ROCnROLL:	2
TRIX (15,9):	0.0200
Courbe Coppock:	0.52

MA7:	1,006.77
MA20:	1,039.73
MA50:	1,019.94
MA100:	1,056.04
MAexp7:	997.14
MAexp20:	998.32
MAexp50:	999.63
MAexp100:	1,006.74
Price / MA7:	-1.32%
Price / MA20:	-4.45%
Price / MA50:	-2.59%
Price / MA100:	-5.92%
Price / MAexp7:	-0.37%
Price / MAexp20:	-0.48%
Price / MAexp50:	-0.61%
Price / MAexp100:	-1.32%

Quotes : - 10 min delayed data - CBOT Futures

News

Don't forget to follow the news on SOYBEAN. At the time of publication of this analysis, the latest news was as follows:

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

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