On the charts below you can see all the highs and lows that have held either Fibonacci retracements, and or major Gann squares (yellow horizontal lines).
All of the major Gann squares are static and will be good until the expiration of the contract.
Cattle
December
From last week,
Use 177.30 as the swing point for the week.
Below it, with it already reacting to 38.2% at 177.30 ($7.00 rally) the target area is 61.8% of the same move at 168.25 and the 167.73 major Gann square. Before then there is a major Gann square at 173.22 to use as the short term target.
It held the short term target of the 173.22 major gann square. The rally from it took it back to the 177.30 swing point, it had one close above it, but right back below it today.
Use 177.30 as the swing point for the week again.
Above it, look for the area of 61.8% back to the 9/19/23 high at 184.75 and the 185.23 major Gann square. Any rally that can't get above 38.2% of the same move at 180.52 is a negative sign and new lows can follow.
Below it, with it already reacting to 38.2% at 177.30 ($7.00 rally) the target area is 61.8% of the same move at 168.25 and the 167.73 major Gann square. Before then there is a major Gann square at 173.22 to use as the short term target.

Oats
March
The move down since it hit the 526.50 major Gann square on 8/30/23 has only attempted to rally two times and both ran into key retracements.
The first one was on 9/29/23 at 38.2% back to the 8/30/23 high and following the ONE44 38.2% rule we should have been looking for new lows. This did happen and the second rally attempt hit 23.6% back to the same high at 420.50, this was also a major gann square. From the ONE44 23.6% rule we know,
Extremely strong/weak markets will only go back 23.6%. This is Typically a runaway market.
The break from there took it to just short of the 340.25 major Gann square and 61.8% on the long term chart at 336.50.
Use 336.50 as the swing point for now.
Above it, it didn't hit 61.8%, but did get close enough to say that on a rally from here the long term target area is the 458.00 major gann square and 61.8% back to the high at 461.00. The short term target is the area of 38.2% at 415.00 and the 420.50 major Gann square. Any rally that can't get above 23.6% at 387.00 keeps the trend extremely negative and new lows can follow.
Below 336.50 the target is 78.6% on the long term chart at 293.75, this is also a major Gann square.

ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.
If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.
You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
Sign up for our Free newsletter here.
FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.
On the date of publication, Nick Ehrenberg did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.