WHEAT

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - 1H - Technical analysis published on 10/18/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

78%

11%

My opinion

Bearish under 578.12 USD

My targets

565.60 USD (-0.99%)

546.25 USD (-4.38%)

My analysis

The bearish trend is currently very strong for WHEAT. As long as the price remains below the resistance at 578.12 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 565.60 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 546.25 USD as an objective. Crossing it would then enable sellers to target 525.00 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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

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

Additional analysis

Quotes

The WHEAT rating is 571.25 USD. The price registered a decrease of -3.10% on the session and was traded between 571.00 USD and 595.50 USD over the period. The price is currently at +0.04% from its lowest and -4.07% from its highest.

571.00

595.50

571.25

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

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 result:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of WHEAT in 1H shows a overall strongly bearish trend. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : Moving Average 50

Type : Bearish

Timeframe : 1 hour

In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is oversold : under 30

Type : Neutral

Timeframe : 1 hour

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

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.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	525.00	546.25	565.60	571.25	578.12	582.50	588.75
Change (%)	-8.10%	-4.38%	-0.99%	-	+1.20%	+1.97%	+3.06%
Change	-46.25	-25.00	-5.65	-	+6.87	+11.25	+17.50
Level	Minor	Minor	Minor	-	Minor	Major	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	564.42	570.33	579.92	585.83	595.42	601.33	610.92
Camarilla	585.24	586.66	588.08	589.50	590.92	592.34	593.76
Woodie	566.25	571.25	581.75	586.75	597.25	602.25	612.75
Fibonacci	570.33	576.25	579.91	585.83	591.75	595.41	601.33

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	557.67	570.83	584.92	598.08	612.17	625.33	639.42
Camarilla	591.51	594.00	596.50	599.00	601.50	604.00	606.49
Woodie	558.13	571.06	585.38	598.31	612.63	625.56	639.88
Fibonacci	570.83	581.24	587.67	598.08	608.49	614.92	625.33

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	503.08	523.67	561.33	581.92	619.58	640.17	677.83
Camarilla	582.98	588.32	593.66	599.00	604.34	609.68	615.02
Woodie	511.63	527.94	569.88	586.19	628.13	644.44	686.38
Fibonacci	523.67	545.92	559.67	581.92	604.17	617.92	640.17

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):	26.39
MACD (12,26,9):	-1.4600
Directional Movement:	-28.03
AROON (14):	-57.14
DEMA (21):	585.29
Parabolic SAR (0,02-0,02-0,2):	593.60
Elder Ray (13):	-11.25
Super Trend (3,10):	585.76
Zig ZAG (10):	572.25
VORTEX (21):	0.9100
Stochastique (14,3,5):	2.71
TEMA (21):	582.71
Williams %R (14):	-98.95
Chande Momentum Oscillator (20):	-20.75
Repulse (5,40,3):	-2.8100
ROCnROLL:	2
TRIX (15,9):	0.0300
Courbe Coppock:	1.97

MA7:	587.61
MA20:	590.34
MA50:	571.96
MA100:	585.11
MAexp7:	579.32
MAexp20:	586.20
MAexp50:	586.42
MAexp100:	588.32
Price / MA7:	-2.78%
Price / MA20:	-3.23%
Price / MA50:	-0.12%
Price / MA100:	-2.37%
Price / MAexp7:	-1.39%
Price / MAexp20:	-2.55%
Price / MAexp50:	-2.59%
Price / MAexp100:	-2.90%

Quotes : - 10 min delayed data - CBOT Futures

News

Don't forget to follow the news on WHEAT. At the time of publication of this analysis, the latest news was as follows:

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

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