WHEAT

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

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

Type:	Commodities
Ticker:	WWY
ISIN:

WHEAT - Daily - Technical analysis published on 12/10/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bearish

Underlying: Strongly bearish

Technical indicators

39%

22%

39%

My opinion

Bearish under 564.50 USD

My targets

544.83 USD (-2.36%)

528.10 USD (-5.36%)

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 564.50 USD. The next bearish objective for sellers is set at 544.83 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 528.10 USD. If there is any crossing, the next objective would be the support located at 508.20 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.

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

Force

4.1

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

Additional analysis

Quotes

The WHEAT price is 558.00 USD. The price is lower by -0.13% since the last closing with the lowest point at 553.75 USD and the highest point at 559.00 USD. The deviation from the price is +0.77% for the low point and -0.18% for the high point.

553.75

559.00

558.00

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by WHEAT:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of WHEAT in Daily shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : Daily

In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 7 are neutral and 4 are bearish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Bearish harami

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	Price	R1	R2	R3
ProTrendLines	558.00	564.50	584.25	600.95
Change (%)	-	+1.16%	+4.70%	+7.70%
Change	-	+6.50	+26.25	+42.95
Level	-	Major	Minor	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	542.42	548.08	553.42	559.08	564.42	570.08	575.42
Camarilla	555.73	556.73	557.74	558.75	559.76	560.77	561.78
Woodie	542.25	548.00	553.25	559.00	564.25	570.00	575.25
Fibonacci	548.08	552.29	554.88	559.08	563.29	565.88	570.08

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	524.58	532.42	544.83	552.67	565.08	572.92	585.33
Camarilla	551.68	553.54	555.39	557.25	559.11	560.96	562.82
Woodie	526.88	533.56	547.13	553.81	567.38	574.06	587.63
Fibonacci	532.42	540.15	544.93	552.67	560.40	565.18	572.92

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	473.40	508.20	528.10	562.90	582.80	617.60	637.50
Camarilla	532.96	537.97	542.99	548.00	553.01	558.03	563.04
Woodie	465.95	504.48	520.65	559.18	575.35	613.88	630.05
Fibonacci	508.20	529.10	542.01	562.90	583.80	596.71	617.60

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):	43.36
MACD (12,26,9):	-7.1600
Directional Movement:	-3.25
AROON (14):	-64.29
DEMA (21):	549.72
Parabolic SAR (0,02-0,02-0,2):	540.74
Elder Ray (13):	-0.25
Super Trend (3,10):	578.81
Zig ZAG (10):	557.25
VORTEX (21):	0.9300
Stochastique (14,3,5):	47.20
TEMA (21):	549.71
Williams %R (14):	-53.69
Chande Momentum Oscillator (20):	-7.25
Repulse (5,40,3):	0.8900
ROCnROLL:	-1
TRIX (15,9):	-0.2400
Courbe Coppock:	3.72

MA7:	553.54
MA20:	556.74
MA50:	581.72
MA100:	581.45
MAexp7:	555.65
MAexp20:	560.12
MAexp50:	573.23
MAexp100:	587.55
Price / MA7:	+0.81%
Price / MA20:	+0.23%
Price / MA50:	-4.08%
Price / MA100:	-4.03%
Price / MAexp7:	+0.42%
Price / MAexp20:	-0.38%
Price / MAexp50:	-2.66%
Price / MAexp100:	-5.03%

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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