SOYBEAN MEAL FULL0724 - 1H - Technical analysis published on 03/02/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
28%
44%
My opinion
Bearish under 453.3 USD
My targets
444.4 USD (-0.80%)
437.9 USD (-2.25%)
My analysis
The bearish trend is currently very strong for SOYBEAN MEAL FULL0522. As long as the price remains below the resistance at 453.3 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 444.4 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 437.9 USD as an objective. Crossing it would then enable sellers to target 425.0 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.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5
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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 FULL0522 rating 448.0 USD. The price is lower by -1.39% since the last closing and was between 445.0 USD and 457.9 USD. This implies that the price is at +0.67% from its lowest and at -2.16% from its highest.445.0
457.9
448.0
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN MEAL FULL0522 in 1H shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 8 are neutral and 5 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 425.0 | 437.9 | 444.4 | 448.0 | 448.8 | 453.3 | 458.6 |
| Change (%) | -5.13% | -2.25% | -0.80% | - | +0.18% | +1.18% | +2.37% |
| Change | -23.0 | -10.1 | -3.6 | - | +0.8 | +5.3 | +10.6 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 438.1 | 443.0 | 448.7 | 453.6 | 459.3 | 464.2 | 469.9 |
| Camarilla | 451.4 | 452.4 | 453.3 | 454.3 | 455.3 | 456.2 | 457.2 |
| Woodie | 438.4 | 443.2 | 449.0 | 453.8 | 459.6 | 464.4 | 470.2 |
| Fibonacci | 443.0 | 447.1 | 449.6 | 453.6 | 457.7 | 460.2 | 464.2 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 382.0 | 411.8 | 427.3 | 457.1 | 472.6 | 502.4 | 517.9 |
| Camarilla | 430.2 | 434.4 | 438.6 | 442.7 | 446.9 | 451.0 | 455.2 |
| Woodie | 374.8 | 408.2 | 420.1 | 453.5 | 465.4 | 498.8 | 510.7 |
| Fibonacci | 411.8 | 429.1 | 439.8 | 457.1 | 474.4 | 485.1 | 502.4 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 367.9 | 398.2 | 426.3 | 456.6 | 484.7 | 515.0 | 543.1 |
| Camarilla | 438.2 | 443.6 | 449.0 | 454.3 | 459.7 | 465.0 | 470.4 |
| Woodie | 366.7 | 397.7 | 425.1 | 456.1 | 483.5 | 514.5 | 541.9 |
| Fibonacci | 398.2 | 420.5 | 434.3 | 456.6 | 478.9 | 492.7 | 515.0 |
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): | 47.60 | |
| MACD (12,26,9): | 0.4000 | |
| Directional Movement: | 2.3 | |
| AROON (14): | 50.0 | |
| DEMA (21): | 451.7 | |
| Parabolic SAR (0,02-0,02-0,2): | 446.2 | |
| Elder Ray (13): | -1.7 | |
| Super Trend (3,10): | 444.7 | |
| Zig ZAG (10): | 449.7 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 61.80 | |
| TEMA (21): | 452.4 | |
| Williams %R (14): | -62.00 | |
| Chande Momentum Oscillator (20): | -1.2 | |
| Repulse (5,40,3): | -0.6000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.50 |
| MA7: | 452.0 | |
| MA20: | 448.2 | |
| MA50: | 421.4 | |
| MA100: | 378.3 | |
| MAexp7: | 451.6 | |
| MAexp20: | 451.4 | |
| MAexp50: | 451.5 | |
| MAexp100: | 452.3 | |
| Price / MA7: | -0.88% | |
| Price / MA20: | -0.04% | |
| Price / MA50: | +6.31% | |
| Price / MA100: | +18.42% | |
| Price / MAexp7: | -0.80% | |
| Price / MAexp20: | -0.75% | |
| Price / MAexp50: | -0.78% | |
| Price / MAexp100: | -0.95% |
Quotes :
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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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