SOYBEAN MEAL FULL0724 - 1H - Technical analysis published on 11/02/2021 (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
78%
0%
22%
My opinion
Bullish above 328.4 USD
My targets
333.8 USD (+0.63%)
345.8 USD (+4.25%)
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 328.4 USD. The buyers' bullish objective is set at 333.8 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 345.8 USD. If there is any crossing, the next objective would be the resistance located at 376.9 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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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
The SOYBEAN MEAL FULL1221 price is 331.7 USD. The price registered an increase of +0.79% on the session and was between 328.8 USD and 332.0 USD. This implies that the price is at +0.88% from its lowest and at -0.09% from its highest.328.8
332.0
331.7
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN MEAL FULL1221 in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 326.5 | 328.4 | 331.7 | 331.7 | 333.8 | 345.8 | 376.9 |
| Change (%) | -1.57% | -0.99% | 0% | - | +0.63% | +4.25% | +13.63% |
| Change | -5.2 | -3.3 | 0 | - | +2.1 | +14.1 | +45.2 |
| Level | Minor | Major | Minor | - | Intermediate | Major | 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 | 321.7 | 325.2 | 327.1 | 330.6 | 332.5 | 336.0 | 337.9 |
| Camarilla | 327.6 | 328.1 | 328.6 | 329.1 | 329.6 | 330.1 | 330.6 |
| Woodie | 321.0 | 324.8 | 326.4 | 330.2 | 331.8 | 335.6 | 337.2 |
| Fibonacci | 325.2 | 327.2 | 328.5 | 330.6 | 332.6 | 333.9 | 336.0 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 314.1 | 318.6 | 325.7 | 330.2 | 337.3 | 341.8 | 348.9 |
| Camarilla | 329.7 | 330.8 | 331.8 | 332.9 | 334.0 | 335.0 | 336.1 |
| Woodie | 315.5 | 319.3 | 327.1 | 330.9 | 338.7 | 342.5 | 350.3 |
| Fibonacci | 318.6 | 323.0 | 325.7 | 330.2 | 334.6 | 337.3 | 341.8 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 288.8 | 299.0 | 314.1 | 324.3 | 339.4 | 349.6 | 364.7 |
| Camarilla | 322.1 | 324.5 | 326.8 | 329.1 | 331.4 | 333.7 | 336.1 |
| Woodie | 291.2 | 300.2 | 316.5 | 325.5 | 341.8 | 350.8 | 367.1 |
| Fibonacci | 299.0 | 308.7 | 314.7 | 324.3 | 334.0 | 340.0 | 349.6 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.00 | |
| MACD (12,26,9): | 0.1000 | |
| Directional Movement: | 7.4 | |
| AROON (14): | -21.4 | |
| DEMA (21): | 330.8 | |
| Parabolic SAR (0,02-0,02-0,2): | 328.6 | |
| Elder Ray (13): | 0.6 | |
| Super Trend (3,10): | 333.4 | |
| Zig ZAG (10): | 331.8 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 69.10 | |
| TEMA (21): | 331.0 | |
| Williams %R (14): | -5.90 | |
| Chande Momentum Oscillator (20): | 2.7 | |
| Repulse (5,40,3): | 0.6000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.20 |
| MA7: | 329.9 | |
| MA20: | 323.2 | |
| MA50: | 333.8 | |
| MA100: | 348.5 | |
| MAexp7: | 331.1 | |
| MAexp20: | 330.9 | |
| MAexp50: | 330.8 | |
| MAexp100: | 329.8 | |
| Price / MA7: | +0.55% | |
| Price / MA20: | +2.63% | |
| Price / MA50: | -0.63% | |
| Price / MA100: | -4.82% | |
| Price / MAexp7: | +0.18% | |
| Price / MAexp20: | +0.24% | |
| Price / MAexp50: | +0.27% | |
| Price / MAexp100: | +0.58% |
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.
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