WHEAT

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - Weekly - Technical analysis published on 09/11/2024 (GMT)

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

39%

22%

My opinion

Bearish under 631.25 USD

My targets

549.00 USD (-4.40%)

523.25 USD (-8.88%)

My analysis

WHEAT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 631.25 USD. The next support located at 549.00 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 523.25 USD. Below this support, sellers could then target 495.00 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

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

Force

6.1

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

Additional analysis

Quotes

WHEAT rating 574.25 USD. Over 5 days, this instrument gained +1.32% and was traded between 560.50 USD and 580.00 USD over the period. The price is currently at +2.45% from its lowest point and -0.99% from its highest point.

560.50

580.00

574.25

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

Technical

Technical analysis of WHEAT in Weekly shows a overall strongly 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. 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, 7 are bullish, 4 are neutral and 7 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.

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

Price

	Price	R1	R2	R3
ProTrendLines	574.25	582.50	695.67	944.70
Change (%)	-	+1.44%	+21.14%	+64.51%
Change	-	+8.25	+121.42	+370.45
Level	-	Major	Major	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	553.92	559.83	566.67	572.58	579.42	585.33	592.17
Camarilla	569.99	571.16	572.33	573.50	574.67	575.84	577.01
Woodie	554.38	560.06	567.13	572.81	579.88	585.56	592.63
Fibonacci	559.83	564.70	567.71	572.58	577.45	580.46	585.33

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	545.17	552.83	563.17	570.83	581.17	588.83	599.17
Camarilla	568.55	570.20	571.85	573.50	575.15	576.80	578.45
Woodie	546.50	553.50	564.50	571.50	582.50	589.50	600.50
Fibonacci	552.83	559.71	563.96	570.83	577.71	581.96	588.83

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	469.25	495.00	523.25	549.00	577.25	603.00	631.25
Camarilla	536.65	541.60	546.55	551.50	556.45	561.40	566.35
Woodie	470.50	495.63	524.50	549.63	578.50	603.63	632.50
Fibonacci	495.00	515.63	528.37	549.00	569.63	582.37	603.00

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	44.08
MACD (12,26,9):	-26.0500
Directional Movement:	-6.72
AROON (14):	-85.71
DEMA (21):	557.87
Parabolic SAR (0,02-0,02-0,2):	598.57
Elder Ray (13):	-7.18
Super Trend (3,10):	645.04
Zig ZAG (10):	573.50
VORTEX (21):	0.9600
Stochastique (14,3,5):	23.03
TEMA (21):	549.50
Williams %R (14):	-65.18
Chande Momentum Oscillator (20):	-25.00
Repulse (5,40,3):	3.4800
ROCnROLL:	2
TRIX (15,9):	-0.5000
Courbe Coppock:	32.73

MA7:	569.04
MA20:	553.15
MA50:	562.18
MA100:	615.76
MAexp7:	564.05
MAexp20:	590.55
MAexp50:	638.97
MAexp100:	712.97
Price / MA7:	+0.92%
Price / MA20:	+3.81%
Price / MA50:	+2.15%
Price / MA100:	-6.74%
Price / MAexp7:	+1.81%
Price / MAexp20:	-2.76%
Price / MAexp50:	-10.13%
Price / MAexp100:	-19.46%

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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