Corn Analysis And Why 434.00 Is Important

Corn Analysis

(ZCN24) 

Before we start there are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8% level can cause wide swings and keep the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

We have done 38 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines.

6/20/24

This is the analysis that our Premium Members receive for July Corn.

July

From last week

The next day it closed right back above 442.50 and it has rallied 18 cents so far. Today it is above the 455.25 major Gann square and this will be our swing point for the week.
 

Use 455.25 as the swing point for the week.
 

Below it, look for 78.6% at 434.00, a failure to turn back up from this area will give us a downside target of 78.6% at 417.00.....

It failed to hold the 455.25 major Gann square and is now at 78.6% of the 6/5/24 low and 6/13/24 high at 443.00.

Use 443.00 as the swing point for the week.

Above it, the short term target is 78.6% the other way based on the ONE44 78.6% rule at 456.00. The next target is 78.6% of the 5/14/24 high and 6/5/24 low at 467.00. The long term target is 23.6% on the continuation chart at 482.75, this is also a major Gann square.

Below it, look for 78.6% at 434.00, a failure to turn back up from this area will give us a downside target of 78.6% at 417.00 on the continuation chart. Holding 78.6% at 434.00 can be the start of the next Bull run, or at least send it 78.6% of where it just came from, yet to be determined.

We have 40 videos explaining how to use the Fibonacci retracements with the ONE44 rules and guidelines.

Here are two of the most important,

23.6% & 38.2%

61.8% & 78.6%

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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.

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