WHEAT

527.50 USD (-0.85%)

03/28/2025 - 07:01 Open 10 min delayed data - CBOT Futures

Open:	531.75
Change:	-4.50
Volume:	2,681

Low:	527.50
High:	533.00
High / Low range:	5.50

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - Daily - Technical analysis published on 03/29/2021 (GMT)

195
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03/29/2021 - 09:49
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Timeframe : Daily
- Analysis generated on 03/29/2021 - 09:49
Status : INVALID

Summary of the analysis

Trends

Court terme: Strongly bearish

De fond: Bearish

Technical indicators

22%

56%

22%

My opinion

Bearish under 632.90 USD

My targets

592.08 USD (-3.77%)

579.87 USD (-5.75%)

My analysis

In the short term, we can see an acceleration in the bearish trend on WHEAT, which is a positive signal for sellers. As long as the price remains above 632.90 USD, a sale could be considered. The first bearish objective is located at 592.08 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 579.87 USD as an objective. Crossing it would then enable sellers to target 546.75 USD. If the price were to return above 632.90 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.

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

Force

4.6

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

Additional analysis

Quotes

The WHEAT price is 615.25 USD. The price registered an increase of +0.33% on the session and was traded between 610.25 USD and 616.50 USD over the period. The price is currently at +0.82% from its lowest and -0.20% from its highest.

610.25

616.50

615.25

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

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WHEAT in Daily shows an overall bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced 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, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

RSI indicator: bullish divergence

Type : Bullish

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily

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	522.50	546.75	579.87	615.25	632.90	656.12	675.50
Change (%)	-15.08%	-11.13%	-5.75%	-	+2.87%	+6.64%	+9.79%
Change	-92.75	-68.50	-35.38	-	+17.65	+40.87	+60.25
Level	Minor	Minor	Major	-	Major	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	597.25	602.75	608.00	613.50	618.75	624.25	629.50
Camarilla	610.29	611.28	612.27	613.25	614.24	615.22	616.21
Woodie	597.13	602.69	607.88	613.44	618.63	624.19	629.38
Fibonacci	602.75	606.86	609.39	613.50	617.61	620.14	624.25

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	563.25	585.75	599.50	622.00	635.75	658.25	672.00
Camarilla	603.28	606.60	609.93	613.25	616.57	619.90	623.22
Woodie	558.88	583.56	595.13	619.81	631.38	656.06	667.63
Fibonacci	585.75	599.60	608.15	622.00	635.85	644.40	658.25

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	558.42	592.08	621.17	654.83	683.92	717.58	746.67
Camarilla	632.99	638.75	644.50	650.25	656.00	661.75	667.51
Woodie	556.13	590.94	618.88	653.69	681.63	716.44	744.38
Fibonacci	592.08	616.05	630.86	654.83	678.80	693.61	717.58

Numerical data

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

Technical indicators

Moving averages

RSI (14):	37.53
MACD (12,26,9):	-9.5400
Directional Movement:	-9.61
AROON (14):	-92.86
DEMA (21):	623.85
Parabolic SAR (0,02-0,02-0,2):	642.37
Elder Ray (13):	-15.64
Super Trend (3,10):	655.87
Zig ZAG (10):	615.00
VORTEX (21):	0.8400
Stochastique (14,3,5):	10.35
TEMA (21):	614.94
Williams %R (14):	-85.57
Chande Momentum Oscillator (20):	-27.25
Repulse (5,40,3):	-1.2600
ROCnROLL:	2
TRIX (15,9):	-0.1400
Courbe Coppock:	9.19

MA7:	622.18
MA20:	639.01
MA50:	648.90
MA100:	630.04
MAexp7:	621.93
MAexp20:	634.66
MAexp50:	639.58
MAexp100:	627.80
Price / MA7:	-1.11%
Price / MA20:	-3.72%
Price / MA50:	-5.19%
Price / MA100:	-2.35%
Price / MAexp7:	-1.07%
Price / MAexp20:	-3.06%
Price / MAexp50:	-3.80%
Price / MAexp100:	-2.00%

Quotes : 03/29/2021 - 09:38 - 10 min delayed data - CBOT Futures

News

The last news published on WHEAT at the time of the generation of this analysis was as follows:

06/18/2019 - 18:39 New strain of Monsanto GM wheat escapes lab, grows in wild
08/24/2018 - 13:16 Trading Wheat. Commodity Brief
09/27/2017 - 20:19 Gene-Edited Gluten Makes Wheat For Celiac Disease Sufferers
07/06/2017 - 10:46 What’s next for wheat after surge — #SaxoStrats
07/04/2017 - 13:18 Are Wheat Prices Sustainable?

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

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