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 : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

17%

44%

39%

My opinion

Bearish under 582.50 USD

My targets

549.00 USD (-2.92%)

523.25 USD (-7.47%)

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 582.50 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 confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

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 565.50 USD. Over 5 days, this instrument lost -2.25% and was traded between 564.00 USD and 596.00 USD over the period. The price is currently at +0.27% from its lowest point and -5.12% from its highest point.

564.00

596.00

565.50

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. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
No additional result has been identified by Central Indicators, the scanner specialised in 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	565.50	582.50	695.67	838.89
Change (%)	-	+3.01%	+23.02%	+48.34%
Change	-	+17.00	+130.17	+273.39
Level	-	Major	Intermediate	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	548.00	556.00	561.25	569.25	574.50	582.50	587.75
Camarilla	562.86	564.07	565.29	566.50	567.72	568.93	570.14
Woodie	546.63	555.31	559.88	568.56	573.13	581.81	586.38
Fibonacci	556.00	561.06	564.19	569.25	574.31	577.44	582.50

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	523.00	543.50	555.00	575.50	587.00	607.50	619.00
Camarilla	557.70	560.63	563.57	566.50	569.43	572.37	575.30
Woodie	518.50	541.25	550.50	573.25	582.50	605.25	614.50
Fibonacci	543.50	555.72	563.28	575.50	587.72	595.28	607.50

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):	43.59
MACD (12,26,9):	-23.4500
Directional Movement:	-3.18
AROON (14):	-78.57
DEMA (21):	559.72
Parabolic SAR (0,02-0,02-0,2):	522.31
Elder Ray (13):	2.17
Super Trend (3,10):	645.04
Zig ZAG (10):	566.50
VORTEX (21):	0.9400
Stochastique (14,3,5):	35.26
TEMA (21):	554.17
Williams %R (14):	-64.47
Chande Momentum Oscillator (20):	-29.75
Repulse (5,40,3):	-0.9700
ROCnROLL:	2
TRIX (15,9):	-0.5000
Courbe Coppock:	29.58

MA7:	578.43
MA20:	563.16
MA50:	559.72
MA100:	610.80
MAexp7:	568.65
MAexp20:	590.09
MAexp50:	636.93
MAexp100:	710.47
Price / MA7:	-2.24%
Price / MA20:	+0.42%
Price / MA50:	+1.03%
Price / MA100:	-7.42%
Price / MAexp7:	-0.55%
Price / MAexp20:	-4.17%
Price / MAexp50:	-11.21%
Price / MAexp100:	-20.40%

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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