WHEAT

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - Daily - Technical analysis published on 08/31/2023 (GMT)

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!

Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

22%

67%

11%

My opinion

Bearish under 617.42 USD

My targets

578.67 USD (-3.39%)

554.83 USD (-7.37%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on WHEAT as long as the price remains well below 617.42 USD. The sellers' bearish objective is set at 578.67 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 554.83 USD. In case of crossing, the next objective would be the support located at 461.42 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

7.5

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

Additional analysis

Quotes

WHEAT rating 599.00 USD. The price registered a decrease of -1.32% on the session and was between 595.50 USD and 606.50 USD. This implies that the price is at +0.59% from its lowest and at -1.24% from its highest.

595.50

606.50

599.00

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

Bearish opening

Type : Bearish

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 results:

New LOW record (5 years)

Type : Bearish

Timeframe : Weekly

New LOW record (1 year)

Type : Bearish

Timeframe : Weekly

New LOW record (1st january)

Type : Bearish

Timeframe : Weekly

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this WHEAT chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:

Moving Average bearish crossovers : AMA50 & AMA100

Type : Bearish

Timeframe : Daily

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 2 are neutral and 12 are bearish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : Daily

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Daily

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

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

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

	Price	R1	R2	R3
ProTrendLines	599.00	617.42	699.79	786.50
Change (%)	-	+3.08%	+16.83%	+31.30%
Change	-	+18.42	+100.79	+187.50
Level	-	Major	Minor	Minor

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	589.50	594.50	600.75	605.75	612.00	617.00	623.25
Camarilla	603.91	604.94	605.97	607.00	608.03	609.06	610.09
Woodie	590.13	594.81	601.38	606.06	612.63	617.31	623.88
Fibonacci	594.50	598.80	601.45	605.75	610.05	612.70	617.00

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	578.67	597.08	609.42	627.83	640.17	658.58	670.92
Camarilla	613.29	616.11	618.93	621.75	624.57	627.39	630.21
Woodie	575.63	595.56	606.38	626.31	637.13	657.06	667.88
Fibonacci	597.08	608.83	616.09	627.83	639.58	646.84	658.58

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	461.42	554.83	616.67	710.08	771.92	865.33	927.17
Camarilla	635.81	650.04	664.27	678.50	692.73	706.96	721.19
Woodie	445.63	546.94	600.88	702.19	756.13	857.44	911.38
Fibonacci	554.83	614.14	650.78	710.08	769.39	806.03	865.33

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):	35.29
MACD (12,26,9):	-21.7500
Directional Movement:	-10.85
AROON (14):	-100.00
DEMA (21):	607.90
Parabolic SAR (0,02-0,02-0,2):	623.98
Elder Ray (13):	-22.88
Super Trend (3,10):	660.87
Zig ZAG (10):	599.00
VORTEX (21):	0.8300
Stochastique (14,3,5):	6.00
TEMA (21):	597.21
Williams %R (14):	-94.68
Chande Momentum Oscillator (20):	-25.75
Repulse (5,40,3):	-3.0200
ROCnROLL:	2
TRIX (15,9):	-0.4400
Courbe Coppock:	12.78

MA7:	616.79
MA20:	635.94
MA50:	678.01
MA100:	680.56
MAexp7:	612.92
MAexp20:	635.66
MAexp50:	663.40
MAexp100:	689.78
Price / MA7:	-2.88%
Price / MA20:	-5.81%
Price / MA50:	-11.65%
Price / MA100:	-11.98%
Price / MAexp7:	-2.27%
Price / MAexp20:	-5.77%
Price / MAexp50:	-9.71%
Price / MAexp100:	-13.16%

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.

About author

Londinia AI

Online

Overall rating :

15536

Number of analyses :

90318

Followers :

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…