WHEAT

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - 1H - Technical analysis published on 06/18/2021 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

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WHEAT Chart

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

61%

39%

My opinion

Bearish under 665.50 USD

My targets

650.25 USD (-1.10%)

633.00 USD (-3.73%)

My analysis

Has the basic bearish 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 bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 665.50 USD remains possible. It is advisable to trade WHEAT with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 665.50 USD. The next bearish objective for sellers is set at 650.25 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 633.00 USD. In case of crossing, the next objective would be the support located at 601.75 USD. PS: if there is a bullish break in the resistance located at 665.50 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

0.5

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.

Additional analysis

Quotes

WHEAT rating 657.50 USD. The price has increased by +2.26% since the last closing and was traded between 643.00 USD and 660.25 USD over the period. The price is currently at +2.26% from its lowest and -0.42% from its highest.

643.00

660.25

657.50

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

Bullish opening

Type : Bullish

Timeframe : Openning

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

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

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of WHEAT indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : 1 hour

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour

Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	579.87	601.75	633.00	657.50	658.75	678.71	685.50
Change (%)	-11.81%	-8.48%	-3.73%	-	+0.19%	+3.23%	+4.26%
Change	-77.63	-55.75	-24.50	-	+1.25	+21.21	+28.00
Level	Major	Minor	Intermediate	-	Minor	Intermediate	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	602.42	621.33	632.17	651.08	661.92	680.83	691.67
Camarilla	634.82	637.55	640.27	643.00	645.73	648.45	651.18
Woodie	598.38	619.31	628.13	649.06	657.88	678.81	687.63
Fibonacci	621.33	632.70	639.72	651.08	662.45	669.47	680.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	631.00	650.25	665.50	684.75	700.00	719.25	734.50
Camarilla	671.26	674.43	677.59	680.75	683.91	687.08	690.24
Woodie	629.00	649.25	663.50	683.75	698.00	718.25	732.50
Fibonacci	650.25	663.43	671.57	684.75	697.93	706.07	719.25

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	504.83	572.17	632.83	700.17	760.83	828.17	888.83
Camarilla	658.30	670.03	681.77	693.50	705.23	716.97	728.70
Woodie	501.50	570.50	629.50	698.50	757.50	826.50	885.50
Fibonacci	572.17	621.06	651.27	700.17	749.06	779.27	828.17

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):	54.55
MACD (12,26,9):	-1.6300
Directional Movement:	7.60
AROON (14):	-14.29
DEMA (21):	650.84
Parabolic SAR (0,02-0,02-0,2):	640.60
Elder Ray (13):	5.23
Super Trend (3,10):	660.85
Zig ZAG (10):	658.00
VORTEX (21):	0.9600
Stochastique (14,3,5):	66.79
TEMA (21):	650.22
Williams %R (14):	-16.47
Chande Momentum Oscillator (20):	5.25
Repulse (5,40,3):	0.9000
ROCnROLL:	-1
TRIX (15,9):	-0.0800
Courbe Coppock:	1.03

MA7:	666.25
MA20:	671.85
MA50:	688.54
MA100:	665.58
MAexp7:	652.56
MAexp20:	653.68
MAexp50:	658.04
MAexp100:	663.62
Price / MA7:	-1.31%
Price / MA20:	-2.14%
Price / MA50:	-4.51%
Price / MA100:	-1.21%
Price / MAexp7:	+0.76%
Price / MAexp20:	+0.58%
Price / MAexp50:	-0.08%
Price / MAexp100:	-0.92%

Quotes : - 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:

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

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