SOYBEAN
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 11/12/2024 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

Summary of the analysis

Trends
Short term: Neutral
Underlying: Strongly bearish
Technical indicators
33%
28%
39%
My opinion
Bearish under 1,046.25 USD
My targets
970.75 USD (-3.38%)
926.60 USD (-7.78%)
My analysis
The basic trend is very bearish on SOYBEAN but buyers need to catch their breath in the short term. In a case like this, you could favour trades in the direction of the trend on SOYBEAN. As long as you stay below the resistance 1,046.25 USD, sellers' retain the upper hand. A break in the support at 970.75 USD would be a signal that the basic trend will reverse. Sellers would then use the next support located at 926.60 USD as an objective. Crossing it would then enable sellers to target 838.00 USD. If the price were to depress the resistance 1,046.25 USD in the short term, this would be a sign of possible consolidation in the short term, but against the trend trading would then perhaps be more risky. On the other hand, we could expect signals of a reversal of the trend.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
4.1

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:
15 min. 1H Weekly

Additional analysis

Quotes

The SOYBEAN price is 1,004.75 USD. On the day, this instrument lost -1.71% and was between 1,004.50 USD and 1,027.50 USD. This implies that the price is at +0.02% from its lowest and at -2.21% from its highest.

1,004.50
1,027.50
1,004.75

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

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

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. 82.14% of the signals given by moving averages are bearish. Caution: this global trend is showing signs of running out of steam given the neutral signals of short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is under support 2

Type : Neutral

Timeframe : Daily


RSI indicator is back under 50

Type : Bearish

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Weekly


Williams %R indicator is back under -50

Type : Bearish

Timeframe : Daily



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 838.00 926.60 970.75 1,004.75 1,005.00 1,046.25 1,109.75
Change (%) -16.60% -7.78% -3.38% - +0.02% +4.13% +10.45%
Change -166.75 -78.15 -34.00 - +0.25 +41.50 +105.00
Level Minor Major Intermediate - Major 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
Standard991.001,005.251,013.751,028.001,036.501,050.751,059.25
Camarilla1,015.991,018.081,020.171,022.251,024.341,026.421,028.51
Woodie988.131,003.811,010.881,026.561,033.631,049.311,056.38
Fibonacci1,005.251,013.941,019.311,028.001,036.691,042.061,050.75


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard931.50956.75993.501,018.751,055.501,080.751,117.50
Camarilla1,013.201,018.881,024.571,030.251,035.931,041.621,047.30
Woodie937.25959.63999.251,021.631,061.251,083.631,123.25
Fibonacci956.75980.43995.071,018.751,042.431,057.071,080.75


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard854.58915.92954.831,016.171,055.081,116.421,155.33
Camarilla966.18975.37984.56993.751,002.941,012.131,021.32
Woodie843.38910.31943.631,010.561,043.881,110.811,144.13
Fibonacci915.92954.21977.871,016.171,054.461,078.121,116.42

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): 48.02
MACD (12,26,9): -1.5200
Directional Movement: 1.51
AROON (14): 50.00
DEMA (21): 1,004.95
Parabolic SAR (0,02-0,02-0,2): 983.41
Elder Ray (13): 7.33
Super Trend (3,10): 1,033.24
Zig ZAG (10): 1,006.00
VORTEX (21): 0.9800
Stochastique (14,3,5): 63.05
TEMA (21): 1,008.42
Williams %R (14): -58.05
Chande Momentum Oscillator (20): 7.75
Repulse (5,40,3): -2.5200
ROCnROLL: 2
TRIX (15,9): -0.0900
Courbe Coppock: 2.97
MA7: 1,012.36
MA20: 1,000.24
MA50: 1,022.45
MA100: 1,034.17
MAexp7: 1,011.81
MAexp20: 1,009.15
MAexp50: 1,018.67
MAexp100: 1,042.85
Price / MA7: -0.75%
Price / MA20: +0.45%
Price / MA50: -1.73%
Price / MA100: -2.84%
Price / MAexp7: -0.70%
Price / MAexp20: -0.44%
Price / MAexp50: -1.37%
Price / MAexp100: -3.65%

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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