Fibonacci Retracements & Why They Matter In Grains

Fibonacci Retracements & Why They Matter In Grains
(ZMU26) (ZLU26) (ZCZ26) 

The charts are key to this analysis.

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart.

The second is Fibonacci retracements.

On the charts you can see how many times the markets found support, or resistance and the major Gann squares and Fibonacci retracements.

We have done 45 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.

This is our analysis for this week using these methods.

In Corn, Soybean Meal & Oil the recent rallies were stopped by a 78.6% Fibonacci retracement.

A 78.6% level is where a lot of Bull runs start and stop, for December Corn it was 489.00 on 7/24/26. In Soybean Meal it was 330.00, this was also a major Gann square on 7/24/26. For Soybean Oil it was at 74.55 on 7/24/26.

When a market reacts to a 78.6% retracement the move can be very swift, the first target is 78.6% the other way and longer term it can be the retracement that ends the whole move up.

This was the analysis we sent out for the Weekly Grain/Livestock Update on 7/23/26.

Soybean Meal

This is the last update for September.

From last week,

The 38.2% level at 314.50 will again be the key level for the week, remaining above it keeps the short term trend positive.

Use 314.50 as the swing point for the week again.

Above it, keeps the short term trend positive and the short term target is 61.8% back to the contract high at 325.00. The longer term target area is 78.6% of the same move at 332.00 and the 333.10 major Gann square. The long...

The trend remained positive above the 314.50 (38.2%) swing point and the rally from it hit the longer term target area of 78.6% at 332.00 and the 333.10 major Gann square. The 78.6% level will be the key level for the week and the long term downside target is 78.6% the other way per the ONE44 78.6% rule.

Use 332.00 as the swing point for the week.

Above it, the short term target is the 345.30 major Gann square. The long term target is also the long term swing point at 349.00, this is 38.2% back on the continuation chart.

Below it the long term target is 78.6% the other way at 306.00 per the ONE44 78.6% rule. The short term target is 38.2% of the same move at 320.50, this is also a major Gann square and the level that needs to hold to keep the short term trend positive.

Soybean Oil

This will be the last update for September.

From last week,

All of the closes were above 69.90 (38.2%) and that turned the short term trend positive along with the long term swing point (66.00) and this will again be the key level for the week. 

Use 69.90 as the swing point again.

Above it, keeps the short term trend positive along with the long term trend (66.00). The short term target area is 78.6% of the same move at 74.45 and the 75.03 major Gann square. A failure...

The rally above the 69.90 swing point for the week hit the short term target area of 78.6% at 74.45 and the 75.03 major Gann square. The key level for the week is the 75.03 major Gann square. With 74.45 being 78.6% this will give us a long term downside target of 78.6% the other way per the ONE44 78.6% rule.

Use 75.03 as the swing point for the week.

 Above it, a failure to turn back down from this area will give us only major Gann squares to look for resistance and then use as the swing point when closed above, the next two are 79.21 and 82.99.

Below it, the short term target is 38.2% back to the 7/1/26 low at 71.38, this is also a major Gann square. The long term target is 78.6% of the same move at 67.75 per the ONE44 78.6% rule, this is also a major Gann square.

December

From last week,

All of the closes were above 457.00 (38.2%) turning the short term trend positive. It fell 3 ticks shy of completing the 61.8% (431.00) to 61.8% at 475.00 and this will be the key level for the week. The longer term target will be based on the ONE44 61.8% rule again.

Use 475.00 as the swing point for the week. 

Above it, you still have to watch for a trade above 457.00 that hits the 478.50 major Gann square and closes back below 475.00 as this can cause a sharp selloff. The longer term target is 78.6% at 489.00. The long...

There was no turn lower from 475.00 (61.8%) and today it hit the longer term target of 78.6% at 489.00 and this will be the key level for the week. The long term target on a setback from this area will be 78.6% the other way per the ONE44 78.6% rule.

Use 489.00 as the swing point for the week.

Above it, the short term target is the 511.25 major Gann square. The long term target and swing point is 532.00, this is 38.2% on the continuation chart.

Below it, the short term target is 38.2% back to the 6/30/26 low, this is the level that needs to hold to keep the short term trend positive. The longer term target is 61.8% of the same move at 451.00. The long term target is 78.6% at 439.00 per the ONE44 78.6% rule. Any setback that holds the 478.50 major Gann square keeps the trend very strong and a new high can quickly follow.

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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