Corn Has Now Hit Key Resistance, 512.00

Corn, soybeans - by 12019 via Pixaba

Grains

(ZSH25) (ZCH25) (ZWH25) 

The chart below is 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. On the chart you can see where the market turned multiple times at these levels.

The second is Fibonacci retracements and this is what most of this post will be about.

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 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 our latest, How the Grains Bottomed.

Soybeans

March

The first sign of a trend change happened on 1/3/25 when the market held 38.2% back to the low on 1/3/25 at 989.00. The second positive sign was when it held 38.2% at 1019.00 on 1/16/25 after rallying over 70 cents from the previous 38.2% level. It is currently holding 38.2% back to the 12/19/24 low at 1029.00 and this is the level that needs to hold to keep the short term trend positive.

Corn

March

Corn remains in the strongest position of the 3 Grains. The trend change came on 10/17/24 when it failed to make a new low at a 78.6% retracement and it took out the long term swing point on 1/13/25. The last setback could only go 23.6% back to the 8/26/24 low at 475.00 on 2/3/25, this was also a major Gann square

Wheat 

March

The first sign of a trend change came on 1/27/25 when it failed to make a new low at a 78.6% retracement. The next positive sign was when it hit 38.2% at 570.00 and could only setback 38.2% at 556.00 on 2/3/25 turning the short term trend positive. Last Thursday the market held 38.2% at 575.00 (swing point for the week) keeping the short term trend positive and it has now rallied 30 cents so far.

2/22/25

Corn

May

(ZCK25) 

From last week,

May also remains in a very strong position. It made a slightly higher high, but is still short of the 618.% level at 512.00, this level will again be key for the next week. All the levels Above/Below are the same for this week. 

Use 512.00 as the swing point for the week again.

It has now hit 61.8% at 512.00, but has not moved from this level in any meaningful way and it will again be the key level for the next week. The Above remains the same and the Below has moved up some.

Use 512.00 as the swing point for the week again.

Above it, you still have to watch for a trade up to, or above 512.00 and a close below the 504.75 major Gann square, as this can cause a quick selloff.  The short term target is 539.25, this is 78.6% and a major Gann square. The long term target is 571.75, this 38.2% on the continuation chart and a major Gann square.

Below it, the short term target is 38.2% back to the 8/26/24 low at 478.00, this is now the long term swing point, holding it can send quickly to a new high. With it hitting the 61.8% level at 512.00 the longer term target will be 61.8% the other way at 454.00 per the ONE44 61.8% rule.

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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