SOYBEAN MEAL FULL0724 - 1H - Technical analysis published on 08/16/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 357.6 USD
My targets
363.0 USD (+0.47%)
364.7 USD (+0.94%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SOYBEAN MEAL FULL1221 as long as the price remains well above 357.6 USD. The buyers' bullish objective is set at 363.0 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 364.7 USD. If there is any crossing, the next objective would be the resistance located at 366.6 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
5.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOYBEAN MEAL FULL1221 rating 361.3 USD. The price registered an increase of +0.25% on the session and was between 358.7 USD and 363.8 USD. This implies that the price is at +0.72% from its lowest and at -0.69% from its highest.358.7
363.8
361.3
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN MEAL FULL1221 in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish 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.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Other results related to technical indicators were also found by the Central Indicators scanner:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 353.9 | 357.6 | 361.2 | 361.3 | 363.0 | 364.7 | 366.6 |
Change (%) | -2.05% | -1.02% | -0.03% | - | +0.47% | +0.94% | +1.47% |
Change | -7.4 | -3.7 | -0.1 | - | +1.7 | +3.4 | +5.3 |
Level | Minor | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 347.6 | 351.1 | 355.7 | 359.2 | 363.8 | 367.3 | 371.9 |
Camarilla | 358.2 | 358.9 | 359.7 | 360.4 | 361.1 | 361.9 | 362.6 |
Woodie | 348.3 | 351.4 | 356.4 | 359.5 | 364.5 | 367.6 | 372.6 |
Fibonacci | 351.1 | 354.2 | 356.1 | 359.2 | 362.3 | 364.2 | 367.3 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 341.3 | 347.6 | 354.0 | 360.3 | 366.7 | 373.0 | 379.4 |
Camarilla | 356.9 | 358.1 | 359.2 | 360.4 | 361.6 | 362.7 | 363.9 |
Woodie | 341.4 | 347.6 | 354.1 | 360.3 | 366.8 | 373.0 | 379.5 |
Fibonacci | 347.6 | 352.5 | 355.5 | 360.3 | 365.2 | 368.2 | 373.0 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 293.0 | 320.9 | 337.0 | 364.9 | 381.0 | 408.9 | 425.0 |
Camarilla | 341.1 | 345.1 | 349.2 | 353.2 | 357.2 | 361.3 | 365.3 |
Woodie | 287.2 | 318.0 | 331.2 | 362.0 | 375.2 | 406.0 | 419.2 |
Fibonacci | 320.9 | 337.7 | 348.1 | 364.9 | 381.7 | 392.1 | 408.9 |
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): | 53.00 | |
MACD (12,26,9): | 0.9000 | |
Directional Movement: | 4.5 | |
AROON (14): | 71.5 | |
DEMA (21): | 362.2 | |
Parabolic SAR (0,02-0,02-0,2): | 356.7 | |
Elder Ray (13): | -0.4 | |
Super Trend (3,10): | 359.3 | |
Zig ZAG (10): | 360.9 | |
VORTEX (21): | 1.0000 | |
Stochastique (14,3,5): | 53.50 | |
TEMA (21): | 362.5 | |
Williams %R (14): | -52.80 | |
Chande Momentum Oscillator (20): | 1.1 | |
Repulse (5,40,3): | -0.1000 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0000 | |
Courbe Coppock: | 1.10 |
MA7: | 359.0 | |
MA20: | 359.3 | |
MA50: | 366.1 | |
MA100: | 388.7 | |
MAexp7: | 361.7 | |
MAexp20: | 360.9 | |
MAexp50: | 359.6 | |
MAexp100: | 358.8 | |
Price / MA7: | +0.64% | |
Price / MA20: | +0.56% | |
Price / MA50: | -1.31% | |
Price / MA100: | -7.05% | |
Price / MAexp7: | -0.11% | |
Price / MAexp20: | +0.11% | |
Price / MAexp50: | +0.47% | |
Price / MAexp100: | +0.70% |
Quotes :
-
10 min delayed data
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CBOT Futures
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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