WHEAT
7,916.08
USD
(-0.93%)
03/28/2025 - 15:35
Closed 10 min delayed data - CBOT Futures
| Open: | 7,949.23 |
| Change: | -74.03 |
| Volume: | 4,391,835 |
| Low: | 7,894.62 |
| High: | 7,975.55 |
| High / Low range: | 80.93 |
| Type: | Commodities |
| Ticker: | WWY |
| ISIN: |
WHEAT - Daily - Technical analysis published on 10/28/2024 (GMT)
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- 10/28/2024 - 17:19
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- Timeframe : Daily
- - Analysis generated on 10/28/2024 - 17:19
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
22%
67%
11%
My opinion
Bearish under 565.60 USD
My targets
546.25 USD (-2.46%)
525.00 USD (-6.25%)
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 565.60 USD. The sellers' bearish objective is set at 546.25 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 525.00 USD.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5.7
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 price is 560.00 USD. The price registered a decrease of -1.58% on the session and was between 559.75 USD and 571.50 USD. This implies that the price is at +0.04% from its lowest and at -2.01% from its highest.559.75
571.50
560.00
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by WHEAT:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this WHEAT chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 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
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Black hanging man / hammer
Type : Neutral
Timeframe : Daily
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 525.00 | 546.25 | 560.00 | 565.60 | 582.50 | 614.17 |
| Change (%) | -6.25% | -2.46% | - | +1.00% | +4.02% | +9.67% |
| Change | -35.00 | -13.75 | - | +5.60 | +22.50 | +54.17 |
| Level | Intermediate | Minor | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 542.00 | 554.00 | 561.50 | 573.50 | 581.00 | 593.00 | 600.50 |
| Camarilla | 563.64 | 565.43 | 567.21 | 569.00 | 570.79 | 572.58 | 574.36 |
| Woodie | 539.75 | 552.88 | 559.25 | 572.38 | 578.75 | 591.88 | 598.25 |
| Fibonacci | 554.00 | 561.45 | 566.05 | 573.50 | 580.95 | 585.55 | 593.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 541.58 | 553.67 | 561.33 | 573.42 | 581.08 | 593.17 | 600.83 |
| Camarilla | 563.57 | 565.38 | 567.19 | 569.00 | 570.81 | 572.62 | 574.43 |
| Woodie | 539.38 | 552.56 | 559.13 | 572.31 | 578.88 | 592.06 | 598.63 |
| Fibonacci | 553.67 | 561.21 | 565.87 | 573.42 | 580.96 | 585.62 | 593.17 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 39.72 | |
| MACD (12,26,9): | -2.7200 | |
| Directional Movement: | -6.17 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 578.72 | |
| Parabolic SAR (0,02-0,02-0,2): | 591.01 | |
| Elder Ray (13): | -11.88 | |
| Super Trend (3,10): | 561.83 | |
| Zig ZAG (10): | 562.00 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 14.42 | |
| TEMA (21): | 572.58 | |
| Williams %R (14): | -98.50 | |
| Chande Momentum Oscillator (20): | -41.75 | |
| Repulse (5,40,3): | -2.9100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 7.67 |
| MA7: | 573.14 | |
| MA20: | 587.44 | |
| MA50: | 574.26 | |
| MA100: | 578.63 | |
| MAexp7: | 573.65 | |
| MAexp20: | 580.28 | |
| MAexp50: | 580.19 | |
| MAexp100: | 588.63 | |
| Price / MA7: | -2.29% | |
| Price / MA20: | -4.67% | |
| Price / MA50: | -2.48% | |
| Price / MA100: | -3.22% | |
| Price / MAexp7: | -2.38% | |
| Price / MAexp20: | -3.49% | |
| Price / MAexp50: | -3.48% | |
| Price / MAexp100: | -4.86% |
Quotes :
10/28/2024 - 17:08
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10 min delayed data
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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:
-
03/06/2024 - 10:39
Trading the trend: short Chicago wheat
-
01/05/2024 - 08:00
Trading into 2024: Chicago Wheat and an early possibly entry into Elliot Wave
-
08/14/2023 - 13:00
Watch wheat, corn, soy price volatility, rising Black Sea tensions
-
07/28/2023 - 11:57
AI – How to sort the ‘wheat from the chaff’
-
07/20/2023 - 22:10
Wheat prices soar as Russia bombs Ukraine's grain stores - BBC News
This member declared not having a position on this financial instrument or a related financial instrument.
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