SOYBEAN MEAL FULL0724 - 1H - Technical analysis published on 11/07/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 419.9 USD
My targets
414.0 USD (-0.74%)
411.4 USD (-1.37%)
My analysis
The bearish trend is currently very strong for SOYBEAN MEAL FULL1222. As long as the price remains below the resistance at 419.9 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 414.0 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 411.4 USD as an objective. Crossing it would then enable sellers to target 406.4 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, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7
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This analysis was given by vishr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOYBEAN MEAL FULL1222 price is 417.1 USD. The price registered a decrease of -0.79% on the session and was between 414.6 USD and 423.3 USD. This implies that the price is at +0.60% from its lowest and at -1.46% from its highest.414.6
423.3
417.1
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 SOYBEAN MEAL FULL1222:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this SOYBEAN MEAL FULL1222 chart shows a sharp bearish trend. 89.29% 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 market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 3 are neutral and 11 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
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 | 406.4 | 411.4 | 414.0 | 417.1 | 419.9 | 422.6 | 427.8 |
| Change (%) | -2.57% | -1.37% | -0.74% | - | +0.67% | +1.32% | +2.57% |
| Change | -10.7 | -5.7 | -3.1 | - | +2.8 | +5.5 | +10.7 |
| Level | Major | Major | Minor | - | Intermediate | Minor | Major |
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 | 408.0 | 411.5 | 415.9 | 419.4 | 423.8 | 427.3 | 431.7 |
| Camarilla | 418.2 | 419.0 | 419.7 | 420.4 | 421.1 | 421.9 | 422.6 |
| Woodie | 408.6 | 411.7 | 416.5 | 419.6 | 424.4 | 427.5 | 432.3 |
| Fibonacci | 411.5 | 414.5 | 416.4 | 419.4 | 422.4 | 424.3 | 427.3 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 382.9 | 398.5 | 409.4 | 425.0 | 435.9 | 451.5 | 462.4 |
| Camarilla | 413.1 | 415.5 | 418.0 | 420.4 | 422.8 | 425.3 | 427.7 |
| Woodie | 380.7 | 397.3 | 407.2 | 423.8 | 433.7 | 450.3 | 460.2 |
| Fibonacci | 398.5 | 408.6 | 414.8 | 425.0 | 435.1 | 441.3 | 451.5 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 349.0 | 370.5 | 397.6 | 419.1 | 446.2 | 467.7 | 494.8 |
| Camarilla | 411.4 | 415.9 | 420.4 | 424.8 | 429.3 | 433.7 | 438.2 |
| Woodie | 351.9 | 371.9 | 400.5 | 420.5 | 449.1 | 469.1 | 497.7 |
| Fibonacci | 370.5 | 389.0 | 400.5 | 419.1 | 437.6 | 449.1 | 467.7 |
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): | 42.00 | |
| MACD (12,26,9): | -0.3000 | |
| Directional Movement: | -8.1 | |
| AROON (14): | -7.2 | |
| DEMA (21): | 418.5 | |
| Parabolic SAR (0,02-0,02-0,2): | 423.3 | |
| Elder Ray (13): | -1.2 | |
| Super Trend (3,10): | 416.4 | |
| Zig ZAG (10): | 416.9 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 26.60 | |
| TEMA (21): | 418.5 | |
| Williams %R (14): | -73.60 | |
| Chande Momentum Oscillator (20): | -1.5 | |
| Repulse (5,40,3): | -0.7000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.40 |
| MA7: | 422.0 | |
| MA20: | 414.6 | |
| MA50: | 415.5 | |
| MA100: | 409.3 | |
| MAexp7: | 418.3 | |
| MAexp20: | 418.9 | |
| MAexp50: | 419.6 | |
| MAexp100: | 420.0 | |
| Price / MA7: | -1.16% | |
| Price / MA20: | +0.60% | |
| Price / MA50: | +0.39% | |
| Price / MA100: | +1.91% | |
| Price / MAexp7: | -0.29% | |
| Price / MAexp20: | -0.43% | |
| Price / MAexp50: | -0.60% | |
| Price / MAexp100: | -0.69% |
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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