WHEAT

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - 1H - Technical analysis published on 09/30/2021 (GMT)

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Timeframe : 1H
- Analysis generated on
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WHEAT Chart

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

67%

28%

My opinion

Bearish under 712.92 USD

My targets

701.00 USD (-1.09%)

695.85 USD (-1.82%)

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 712.92 USD, a sale could be considered. The first bearish objective is located at 701.00 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 695.85 USD as an objective. Crossing it would then enable sellers to target 686.25 USD. If the price were to return above 712.92 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.

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

6.6

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 Plamengospodinov.

Additional analysis

Quotes

The WHEAT rating is 708.75 USD. The price is lower by -0.21% since the last closing with the lowest point at 707.25 USD and the highest point at 711.50 USD. The deviation from the price is +0.21% for the low point and -0.39% for the high point.

707.25

711.50

708.75

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

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

Technical

A technical analysis in 1H of this WHEAT chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

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

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

White hanging man / hammer

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	695.85	701.00	708.45	708.75	712.92	719.67	726.92
Change (%)	-1.82%	-1.09%	-0.04%	-	+0.59%	+1.54%	+2.56%
Change	-12.90	-7.75	-0.30	-	+4.17	+10.92	+18.17
Level	Minor	Minor	Intermediate	-	Intermediate	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
Standard	697.42	702.83	706.92	712.33	716.42	721.83	725.92
Camarilla	708.39	709.26	710.13	711.00	711.87	712.74	713.61
Woodie	696.75	702.50	706.25	712.00	715.75	721.50	725.25
Fibonacci	702.83	706.46	708.70	712.33	715.96	718.20	721.83

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	657.67	671.83	697.42	711.58	737.17	751.33	776.92
Camarilla	712.07	715.71	719.36	723.00	726.64	730.29	733.93
Woodie	663.38	674.69	703.13	714.44	742.88	754.19	782.63
Fibonacci	671.83	687.02	696.40	711.58	726.77	736.15	751.33

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	611.33	657.67	685.58	731.92	759.83	806.17	834.08
Camarilla	693.08	699.89	706.69	713.50	720.31	727.11	733.92
Woodie	602.13	653.06	676.38	727.31	750.63	801.56	824.88
Fibonacci	657.67	686.03	703.55	731.92	760.28	777.80	806.17

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):	38.83
MACD (12,26,9):	-1.4900
Directional Movement:	-9.94
AROON (14):	-64.29
DEMA (21):	709.70
Parabolic SAR (0,02-0,02-0,2):	717.22
Elder Ray (13):	-3.01
Super Trend (3,10):	716.97
Zig ZAG (10):	708.75
VORTEX (21):	0.9800
Stochastique (14,3,5):	10.06
TEMA (21):	710.13
Williams %R (14):	-83.33
Chande Momentum Oscillator (20):	-2.00
Repulse (5,40,3):	-0.1200
ROCnROLL:	2
TRIX (15,9):	-0.0300
Courbe Coppock:	0.24

MA7:	713.82
MA20:	708.09
MA50:	716.49
MA100:	693.65
MAexp7:	710.49
MAexp20:	711.67
MAexp50:	713.96
MAexp100:	713.47
Price / MA7:	-0.71%
Price / MA20:	+0.09%
Price / MA50:	-1.08%
Price / MA100:	+2.18%
Price / MAexp7:	-0.24%
Price / MAexp20:	-0.41%
Price / MAexp50:	-0.73%
Price / MAexp100:	-0.66%

Quotes : - 10 min delayed data - CBOT Futures

News

Don't forget to follow the news on WHEAT. 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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