March Corn Completes 78.6% to 78.6% Fibonacci Retracement And Here's What To Look For next

Corn

March

(ZCH25) 

The chart below is key to this analysis.

When the market got back below the combination of longer term retracements at 443.00 on 10/4/24 the target became a new low, however we watch all the retracements on every move to see just how weak, or strong the market is regardless of the longer term target. It failed to make a new low at 78.6% (414.00) on 10/17/24 and this brings in the ONE44 78.6% rule,

Any market that hits 78.6% should go 78.6% back the other way. This is also where a lot of Bull markets end and start.

It has now completed the first target of this rule by hitting 78.6% the other way today at 444.00. This is now the swing point for the next week, he is what we sent out yesterday for our Premium Members.

10/7/24

March
From last week,

It had a small range this week and none of the longer term levels got taken out, so all the key levels remain the same for this week. The idea of a longer term bottom being in place holds until they take out the 78.6% level at 414.00.

Use 414.00 as the swing point for the week.
 

Above it, the short term target is 78.6% the other way at 444.00, this woul;d also bring it back into the long term combination retracement at 443.00.....

This week's rally is just short of the key area of 78.6% at 444.00 and the combination of longer term retracements at 443.00. This is a key area that needs to be taken out to turn the Intermediate trend positive and keep the idea of a longer term bottom possible.

Use 444.00 as the swing point for the week.

Above it, look for 38.2% back to the contract high at 469.00, (this is the long term swing point) and the 475.00 major Gann square. One thing to watch for is a trade above 444.00 and then closing below the 440.50 major Gann square as this can cause a sharp setback.

Below it, the short term target is 38.2% back to the 10/17/24 low at 430.50, holding this would be a very positive sign based on the ONE44 38.2% rule. Longer term…

We have done 43 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

This is the latest.

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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.

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