WHEAT - 1H - Technical analysis published on 11/06/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
39%
11%
50%
My opinion
Neutral between 831.75 USD and 867.75 USD
My targets
-
My analysis
The short-term increase on WHEAT remains moderate but could challenge the slightly bearish basic trend. It is difficult to advise a trading direction under these conditions. The first resistance is located at 867.75 USD. The first support is located at 831.75 USD. You could remain on the sidelines waiting for a more pronounced price movement on this instrument. A new analysis could then be carried out to provide clearer signals.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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This analysis was given by vishr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WHEAT rating 847.75 USD. The price has increased by +0.86% since the last closing and was between 834.00 USD and 855.50 USD. This implies that the price is at +1.65% from its lowest and at -0.91% from its highest.834.00
855.50
847.75
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 slightly bearish. Only 53.57% of the signals given by moving averages are bearish. This slightly bearish trend could turn neutral or reverse given the slightly bullish signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
The Central Indicators scanner found this result concerning these indicators:
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 681.75 | 764.95 | 831.75 | 847.75 | 849.33 | 867.75 | 893.25 |
| Change (%) | -19.58% | -9.77% | -1.89% | - | +0.19% | +2.36% | +5.37% |
| Change | -166.00 | -82.80 | -16.00 | - | +1.58 | +20.00 | +45.50 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 814.50 | 824.25 | 836.00 | 845.75 | 857.50 | 867.25 | 879.00 |
| Camarilla | 841.84 | 843.81 | 845.78 | 847.75 | 849.72 | 851.69 | 853.66 |
| Woodie | 815.50 | 824.75 | 837.00 | 846.25 | 858.50 | 867.75 | 880.00 |
| Fibonacci | 824.25 | 832.46 | 837.54 | 845.75 | 853.96 | 859.04 | 867.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 739.42 | 783.58 | 815.67 | 859.83 | 891.92 | 936.08 | 968.17 |
| Camarilla | 826.78 | 833.77 | 840.76 | 847.75 | 854.74 | 861.73 | 868.72 |
| Woodie | 733.38 | 780.56 | 809.63 | 856.81 | 885.88 | 933.06 | 962.13 |
| Fibonacci | 783.58 | 812.71 | 830.71 | 859.83 | 888.96 | 906.96 | 936.08 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 706.17 | 764.33 | 833.42 | 891.58 | 960.67 | 1,018.83 | 1,087.92 |
| Camarilla | 867.51 | 879.17 | 890.84 | 902.50 | 914.17 | 925.83 | 937.49 |
| Woodie | 711.63 | 767.06 | 838.88 | 894.31 | 966.13 | 1,021.56 | 1,093.38 |
| Fibonacci | 764.33 | 812.94 | 842.97 | 891.58 | 940.19 | 970.22 | 1,018.83 |
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): | 50.75 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | -3.45 | |
| AROON (14): | 0 | |
| DEMA (21): | 846.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 854.24 | |
| Elder Ray (13): | 1.58 | |
| Super Trend (3,10): | 859.13 | |
| Zig ZAG (10): | 847.25 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 64.73 | |
| TEMA (21): | 848.87 | |
| Williams %R (14): | -38.37 | |
| Chande Momentum Oscillator (20): | -2.75 | |
| Repulse (5,40,3): | -0.1800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.24 |
| MA7: | 855.18 | |
| MA20: | 861.26 | |
| MA50: | 862.64 | |
| MA100: | 858.03 | |
| MAexp7: | 846.99 | |
| MAexp20: | 846.38 | |
| MAexp50: | 849.58 | |
| MAexp100: | 852.71 | |
| Price / MA7: | -0.87% | |
| Price / MA20: | -1.57% | |
| Price / MA50: | -1.73% | |
| Price / MA100: | -1.20% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | -0.27% | |
| Price / MAexp100: | -0.64% |
Quotes :
-
10 min delayed data
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CBOT Futures
News
The last news published on WHEAT at the time of the generation of this analysis was as follows:
-
Russia pull the plug on Ukraine wheat deal
-
Wheat climbs almost 6% as Black Sea deal fails 🇷🇺
-
Zimbabwe boosts wheat growing amid global shortage | DW News
-
Senegal wheat prices create demand for locally-sourced cereals
-
Four Are Dead After An Apparent Murder-Suicide In North Dakota Wheat Field
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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