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 09/19/2024 (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

28%

33%

39%

My opinion

Bearish under 631.25 USD

My targets

549.00 USD (-4.65%)

523.25 USD (-9.12%)

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 631.25 USD. The sellers' bearish objective is set at 549.00 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 523.25 USD. In case of crossing, the next objective would be the support located at 495.00 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.

Force

6.3

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 575.75 USD. The price is lower by -0.60% over the 5 days and was traded between 571.25 USD and 596.00 USD over the period. The price is currently at +0.79% from its lowest point and -3.40% from its highest point.

571.25

596.00

575.75

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. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

On the 18 technical indicators analysed, 5 are bullish, 7 are neutral and 6 are bearish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

The analysis of the price chart with Central Patterns scanners does not return any result.

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	575.75	582.50	695.67	838.89
Change (%)	-	+1.17%	+20.83%	+45.70%
Change	-	+6.75	+119.92	+263.14
Level	-	Major	Intermediate	Minor

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	562.00	567.50	571.75	577.25	581.50	587.00	591.25
Camarilla	573.32	574.21	575.11	576.00	576.89	577.79	578.68
Woodie	561.38	567.19	571.13	576.94	580.88	586.69	590.63
Fibonacci	567.50	571.23	573.53	577.25	580.98	583.28	587.00

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	541.42	556.33	566.17	581.08	590.92	605.83	615.67
Camarilla	569.19	571.46	573.73	576.00	578.27	580.54	582.81
Woodie	538.88	555.06	563.63	579.81	588.38	604.56	613.13
Fibonacci	556.33	565.79	571.63	581.08	590.54	596.38	605.83

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 technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	45.07
MACD (12,26,9):	-22.6900
Directional Movement:	-3.22
AROON (14):	-78.57
DEMA (21):	561.37
Parabolic SAR (0,02-0,02-0,2):	522.31
Elder Ray (13):	4.44
Super Trend (3,10):	645.04
Zig ZAG (10):	576.00
VORTEX (21):	0.9500
Stochastique (14,3,5):	37.71
TEMA (21):	556.53
Williams %R (14):	-57.09
Chande Momentum Oscillator (20):	-20.25
Repulse (5,40,3):	1.5900
ROCnROLL:	2
TRIX (15,9):	-0.5000
Courbe Coppock:	29.04

MA7:	579.57
MA20:	561.62
MA50:	560.27
MA100:	611.57
MAexp7:	571.02
MAexp20:	590.99
MAexp50:	637.30
MAexp100:	710.66
Price / MA7:	-0.66%
Price / MA20:	+2.52%
Price / MA50:	+2.76%
Price / MA100:	-5.86%
Price / MAexp7:	+0.83%
Price / MAexp20:	-2.58%
Price / MAexp50:	-9.66%
Price / MAexp100:	-18.98%

Quotes : - 10 min delayed data - CBOT Futures

News

The latest news and videos published on WHEAT at the time of the analysis were as follows:

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

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