Agriculture Index closed up by 4.61% to 412.13 on 23 January 2021 and +3.35% on a weekly basis. Agriculture Index momentum was last calculated at +100.0/100 indicating positive momentum. Agriculture Index trend is +100.0/100 indicating a positive trend. Agriculture Index momentum exhaustion is 2.89377 indicating Agriculture Index is overbought.Agriculture Index RSI is 80.5867 .
Agriculture Index Chart
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Agriculture Index closed at 412.13 on 23 January 2021. Agriculture Index trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Agriculture Index momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Agriculture Index momentum exhaustion is 2.89377 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Agriculture Index is overbought and a possible reversal is imminent. Agriculture Index RSI was last calculated at 80.5867. Agriculture Index moving averages were last recorded as follows: 1-month moving average: 342.551 in an uptrend , 1-quarter moving average: 331.72 in an uptrend and 1-year moving average: 291.275 in an uptrend. Agriculture Index annual return was last recorded at None%, daily return was last recorded at 4.61%, and weekly return was last recorded at 3.35%. Agriculture Index histrorical 20-day volatility was last recorded at 13.156%, Agriculture Index alpha None, Agriculture Index beta None and Agriculture Index maximum drawdown was recorded at None%. MacroVar models monitor Agriculture Index statistics based on historical data since 1970.
Momentum trading is used to capture moves in shorter timeframes than trends.
Momentum is the relative change occurring in markets. Relative change is
different to a trend. A long-term trend can be up but the short-term momentum of
a specific market can be 0. If a market moves down and then moves up and then
moves back down the net relative change in price is 0. That means momentum is 0.
A short-term positive momentum, with a long-term downtrend results in markets
with no momentum.
MacroVar Agriculture Index momentum signal ranges from -100 to +100. The
Agriculture Index momentum signal is derived as the mean value from 4
calculations for the Agriculture Index. The timeframes monitored are the
following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading
days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Agriculture
Index return is calculated for the specific timeframe and 2. if the return
calculated is higher than 0, signal value output is 1 else signal value is -1.
Agriculture Index BADI momentum signal is the aggregate of the the 4
values. A technical momentum rollover is identified when Agriculture Index
momentum signal moves from positive to negative value or vice-versa.
Agriculture Index Trend
Agriculture Index trend signal ranges from -100 to +100. Agriculture Index–
Agriculture Index trend indicator is the mean value of the 8 calculations described below. The
timeframes monitored are the following: 1-month (20 trading days), 3-months (60
trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Agriculture
Index Closing price vs Agriculture Index moving average (MA)
calculation: If Agriculture Index is greater than Agriculture Index MA
value is +1, else -1, 2. Agriculture Index Moving average slope
calculation: if current Agriculture Index moving average is higher than the
previous MA, Agriculture Index upward slope +1, else -1
Agriculture Index trend model can be used as a trend strength indicator.
Agriculture Index trend strength values ranging between +75 and +100 or -75
and -100 show strong trend strength.
A technical trend rollover is identified when Agriculture Index trend
strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Agriculture Index 52-week simple moving average and its slope are the
most important indicators defining a market’s trend. Agriculture Index is
in an uptrend when Agriculture Index price is higher than the 52-week
moving average and the Agriculture Index 52-week moving average has an
upward slope. If fundamentals of the market have not changed and the moving
average slope is still in uptrend, a price drop signifies a market correction
and not a change of trend. Traders should watch oscillators like the Agriculture
Index oscillator and Agriculture Index RSI to buy the dip and still
follow the trend. The moving average slope turn signifies a change of trend.
Agriculture Index Oscillator
The Agriculture Index oscillator estimated by MacroVar is the z-score of
the current Agriculture Index price versus Agriculture Index 1-year
simple moving average price. The formula for the Agriculture Index
Agriculture Index oscillator = (Current Price – 250 trading days
Agriculture Index simple moving average price) / (250 days Agriculture
Index price standard deviation)
Agriculture Index oversold conditions
Agriculture Index is oversold when it is subject to a persistent downward
pressure due to extreme fund outflows. When the Agriculture Index is
oversold it is often due for a rebound. Values of the Agriculture Index
oscillator lower than -2.5 signify oversold conditions. It must be noted that
the Agriculture Index oscillator must be analyzed ibn conjunction with the
rest of Agriculture Index quantitative factors. Traders should pay less
attention to overbought or oversold conditions during strong trends. They should
pay close attention during counter trends and all combined with the Agriculture
Agriculture Index overbought conditions
Agriculture Index is overbought when it is subject to a persistent upward
pressure due to extreme fund inflows. When the Agriculture Index is
overbought it is often due for a correction. Values of the Agriculture Index–
Agriculture Index oscillator higher than +2.5 signify overbought conditions. It must be noted
that the MacroVar oscillator must be compared to the rest of the Agriculture
Index quantitative factors. Traders should pay less attention to overbought
or oversold conditions during strong trends. They should pay close attention
during counter trends and all combined with the RSI.
Agriculture Index RSI Indicator
The RSI indicator measures the speed and change of price movements. The RSI
indicator oscillates between 0 and 100. RSI is a useful indicator during normal
trending market conditions when an asset price oscillates around its trend
value. During big moves and strong trends however, like short squeezes or price
spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Agriculture Index is in a
downtrend RSI values between 50-60 signify overbought conditions before the
downtrend is ready to resume. During Agriculture Index uptrend, RSI values
of 40 to 50 signify oversold conditions before the uptrend is ready to resume.
It is strongly not recommended to enter a position when the RSI is “overbought”
and falling or vice versa.
Agriculture Index Returns
MacroVar calculates Agriculture Index returns for the following timeframes:
Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Agriculture Index returns = (Agriculture Index Closing Price Previous Price)/(Agriculture Index Previous Price)