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WHEAT
WHEAT
0.001265 USD (-0.94%)
04/06/2025 - 10:31 Open 10 min delayed data - CBOT Futures
Open: 0.001204
Change: -0.000012
Volume: 0
Low: 0.001187
High: 0.001311
High / Low range: 0.000124
Type: Commodities
Ticker: WWY
ISIN:

WHEAT - Daily - Technical analysis published on 03/08/2021 (GMT)

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  • 03/08/2021 - 10:17
Londinia
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  • Timeframe : Daily
  • - Analysis generated on 03/08/2021 - 10:17
  • Status : INVALID

Summary of the analysis

Trends
Court terme: Neutral
De fond: Bullish
Technical indicators
17%
33%
50%
My opinion
Bullish above 632.75 USD
My targets
675.50 USD (+3.01%)
717.58 USD (+9.43%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 632.75 USD remains possible. It is advisable to trade WHEAT with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 632.75 USD. The next bullish objective for buyers is set at 675.50 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 717.58 USD. If there is any crossing, the next objective would be the resistance located at 739.00 USD. PS: if there is a bearish break in the support located at 632.75 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
2.7

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.

Vincent Launay
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The WHEAT rating is 655.75 USD. On the day, this instrument gained +0.42% and was between 653.25 USD and 662.75 USD. This implies that the price is at +0.38% from its lowest and at -1.06% from its highest.

653.25
662.75
655.75

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



Here is a more detailed summary of the historical variations registered by WHEAT:
Created with Raphaël 2.3.0010203040January 1st3 years1 year6 months1 month5 daysToday
The Central Records scanner for higher/lower results shows the following items:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in Daily of this WHEAT chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:

Central Indicators

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily


Price is back under the pivot point

Type : Bearish

Timeframe : Weekly


Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily



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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 579.87 632.75 654.88 655.75 675.50 739.00 943.25
Change (%) -11.57% -3.51% -0.13% - +3.01% +12.70% +43.84%
Change -75.88 -23.00 -0.87 - +19.75 +83.25 +287.50
Level Major Intermediate Intermediate - Major Minor Intermediate



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
Standard632.25639.50646.25653.50660.25667.50674.25
Camarilla649.15650.43651.72653.00654.28655.57656.85
Woodie632.00639.38646.00653.38660.00667.38674.00
Fibonacci639.50644.85648.15653.50658.85662.15667.50


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard619.50632.50642.75655.75666.00679.00689.25
Camarilla646.61648.74650.87653.00655.13657.26659.39
Woodie618.13631.81641.38655.06664.63678.31687.88
Fibonacci632.50641.38646.87655.75664.63670.12679.00


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard558.42592.08621.17654.83683.92717.58746.67
Camarilla632.99638.75644.50650.25656.00661.75667.51
Woodie556.13590.94618.88653.69681.63716.44744.38
Fibonacci592.08616.05630.86654.83678.80693.61717.58

Numerical data


The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators
Created with Raphaël 2.3.0Neutral9
Moving averages
Created with Raphaël 2.3.0Buy21

RSI (14): 50.43
MACD (12,26,9): 2.5300
Directional Movement: 0.37
AROON (14): 42.86
DEMA (21): 660.97
Parabolic SAR (0,02-0,02-0,2): 681.33
Elder Ray (13): 0.26
Super Trend (3,10): 622.05
Zig ZAG (10): 655.75
VORTEX (21): 1.0300
Stochastique (14,3,5): 29.62
TEMA (21): 658.15
Williams %R (14): -70.81
Chande Momentum Oscillator (20): -9.50
Repulse (5,40,3): -1.5100
ROCnROLL: -1
TRIX (15,9): 0.0900
Courbe Coppock: 3.46
MA7: 656.18
MA20: 656.58
MA50: 651.45
MA100: 627.39
MAexp7: 657.20
MAexp20: 656.78
MAexp50: 646.44
MAexp100: 625.76
Price / MA7: -0.07%
Price / MA20: -0.13%
Price / MA50: +0.66%
Price / MA100: +4.52%
Price / MAexp7: -0.22%
Price / MAexp20: -0.16%
Price / MAexp50: +1.44%
Price / MAexp100: +4.79%

Quotes : 03/08/2021 - 10:06 - 10 min delayed data - CBOT Futures

News


The latest news and videos published on WHEAT 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.

About author

Londinia
Londinia AI

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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

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