Wheat Daily Commodity Futures Price Chart: July 2014 : CBOT

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Daily Commodity Futures Price Chart: July 2014

Wheat (CBOT)

TFC Commodity Charts


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Contract Specifications:W,CBOT
Trading Unit: 5,000 bu
Tick Size: 1/4 cent/bu ($12.50/contract)
Quoted Units: US $ per bushel
Initial Margin: $1,890   Maint Margin: $1,400
Contract Months: Mar, May, Jul, Sep, Dec,
First Notice Day: Last business day of month preceding contract month.
Last Trading Day: The business day prior to the 15th calendar day of the contract month.
Trading Hours: Monday Friday, 8:30 a.m. 1:15 p.m. CT
Daily Limit: $0.60 per bushel expandable to $0.90 and then to $1.35 when the market closes at limit bid or limit offer.

Analysis

Thu 4/17/14

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: Volatility appears to be picking up a bit, as evidenced by an increasing distance between the upper and lower bands over the last few bars. The market appears overbought, but may continue to become more overbought before reversing. Look for some price weakness before taking any bearish positions based on this indicator.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Short Term: The market is EXTREMELY BULLISH. Everything in this indicator is pointing to higher prices: the fast average is above the slow average; the fast average is on an upward slope from the previous bar; the slow average is on an upward slope from the previous bar; and price is above the fast average and the slow average.

Conventional Interpretation - Long Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Long Term: Even though based on conventional interpretation the market is technically bearish, we will not classify it as extremely bearish until the following occurs: the fast moving average slope is down from previous bar, price goes below the fast moving average, price goes below the slow moving average.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is above the moving average so the trend is up.

Additional Analysis: Market trend is UP.

Stochastic - Fast Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: The long term trend is UP. The short term trend looks a little toppy. A possible short term down move may occur.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: The long term trend is UP. The market looks strong both long term and short term. The SlowK is at (64.32). A good upward move is possible without SlowK being overbought.

Swing Index Indicator:

Conventional Interpretation: The swing index is most often used to identify bars where the market is likely to change direction. A signal is generated when the swing index crosses zero. No signal has been generated here.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is trending up based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is UP. The short term market trend, based on a 5 bar moving average, is UP. Volume is trending higher, allowing for a pick up in volatility.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 56.31). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat overbought (RSI is at 56.31). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence before getting too bearish here.

ADX Indicator:

Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is rising.

Additional Analysis: The long term trend, based on a 45 bar moving average, is up. Further, a rising ADX indicates that the current trend is healthy and should remain intact. Look for the current uptrend to continue.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (34.94) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation,CCI (34.94) is bullish, but has begun showing some weakness. Begin looking for an attractive point to liquidate long positions and return to the sidelines.

DMI Indicator:

Conventional Interpretation: DMI+ is greater than DMI-, indicating an upward trending market. A signal is generated when DMI+ crosses DMI-.

Additional Analysis: DMI is in bullish territory.

MACD Indicator:

Conventional Interpretation: MACD is in bearish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. MACD is in bearish territory. However, the recent upturn in the MacdMA may indicate a short term rally within the next few bars.

Momentum Indicator:

Conventional Interpretation: Momentum (17.25) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Momentum is indicating an overbought market, and appears to be slowing. A modest downturn is possible here.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (2.53) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is indicating an overbought market, and appears to be slowing. A modest downturn is possible here.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.


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