Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Technical Overview: Wheat, Soybean, Sugar

Published 02/15/2017, 03:51 AM
Updated 07/09/2023, 06:31 AM

TECHNICAL OVERVIEW

Wheat

Main scenario:
The market is trading along an uptrend with target on 458/462, that may be expected to continue, while market is trading above support level 441/443.

Alternative scenario:
A downtrend will start as soon, as the market drops below support level 441/443, which will be followed by a move down to support level 429/433 and if it keeps on moving up above that level, we may expect the market to reach resistance level 419.

Wheat 1 Hour Chart

Soybean

Main scenario:
The market is trading along an uptrend with target on 1065. A downtrend will start as soon as the market drops below support level 1048, which will be followed by a move down to support level 1036, 1021 and 1012.

Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1065, which will be followed by reaching resistance level 1090.

Soybean 4 Hour Chart

Sugar

Main scenario:
The market is trading along a sideways trend between support 20.10 and resistance 21.55. A downtrend will start as soon as the market drops below support level 20.10, which will be followed by a move down to support level 19.60, 19.00 and 18.15/35.

Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 21.55, which will be followed by reaching resistance level 22.20 and 22.70.

Sugar 4 Hour Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.