Corn forecast ZC1!Looks like a possible long setup for the short term, but beware of nearby resistance. Wait for confirmation.
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Zc1
ZC1 uptrend resisting Fib levelCorn futures ZC1 have touched the 50% Fibonacci level on three occasions and failed each time. Looking for a reversal to the uptrend
Previous Target hit. 1D Channel Down continuation. Short.The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.
Break out point on 1DAfter breaking the 1D Channel Up (Highs/Lows = -12.9821, MACD = -1.170), Corn just bounced off the first important support at 380. We will either see a strong rebound here (long with tight SL, TP = 392.40) or if 379 breaks, it will look for the 372.20 support (TP = 374).
Corn: Bear Flag Under the TrendlineLooks like a flag to me.
My indicators do not yet align with the idea on this time frame...I will update using lower time frames below.
Also note the bearish 2618 set-up which completes @ 393.
If you have any comments or feedbacks on this idea or your own view on Corn, please share!
Wheat - Mar $4 Support?Bulled up... just a matter of weather* $4 support holds or we drop down to 3.5 levels
Trend line resistance erroded
Buying Corn @ the Bat @ Trendline; Aiming for the Bearish BatI wanted to show the longer term view. Corn has been bullish but I have patiently been waiting to short at the large bearish bat/2618 trade set-up (linked below).
However if you zoom in you can see the potential buy set-up near the trendline based on 2 different bullish Bat patterns (yellow and pink). I will be watching price action near their completion points to choose which to take. I will move stops to B.E at TP1 of the pattern I choose and will likely choose to aim for the entry of the bearish Bat which would make a great long trade.
(Note: the bearish Cypher (blue) is only valid if the bat patterns do not complete!)
CORN | Weekly ChartIt's arguably a similar case to the former on wheat... Buying within the lowest decile in a decade, a very asymmetric return distribution, a potential break-out of the down trend.
CORN: Go long at market openWe should enter longs in CORN at market open tomorrow, our risk is 85 cents down from our entry (whatever that is), so size your trade accordingly, risk 1% on the position, and aim for a 13.95% rally, to begin with.
There's a possibility that this is a long lasting bottom in this commodity (and possibly many others), so don't miss out on the move.
Good luck,
Ivan Labrie.
ZC: Corn has a new potential uptrend signal hereLet's add to longs at market open, there's a chance a second 'Time at mode' signal confirms on close here. Move all stops to Sept. 12th's low, and open a 1% risk long, if we don't retest the new entry stop on close, we can expect a rally to 364'6 by or before October 25th.
We should see a strong rally from here, and at least 3-4% more upside, before a pause in it.
This is an example of the type of work we do with my signals group, so if you're interested in a free 1 week trial, message me.
Good luck,
Ivan Labrie.
Commodities: Oil leading the pack and an interesting spreadWe have an interesting setup here, with oil suddenly breaking up above weekly resistance, and outperforming precious metals, I think we might see a shift in positioning towards oil, and a few laggards that show an increase in commercial long positions for some time according to the commitment of traders report.
I'm watching oats, rough rice, soybeans, corn and wheat here.
Powerful trends look to either stall, or shift down, like the ones in silver, gold, orange juice, sugar, coffee...If everyone already bought and is in positions, who is left there to buy and bid it higher?
Right now, my focus is seeing which commodities moved up for the day yesterday, and then examine the individual setups. I'll post the ones worthy of attention, but meant to publish this as a heads up.
You can read the tickers and the color code on the top left corner.
Feel free to leave comments below.
Cheers,
Ivan Labrie.
Corn: Potential time at mode signalIf Corn breaks above the August 19th high, it could be a good chance to enter longs risking a drop under yesterday's low. You can apply this idea to the front month futures, or to an ETF if trading stocks, remember to use the prices corresponding to these dates for your trade parameters.
If not filled in the short term, this idea is invalid.
Good luck!
Ivan Labrie.
SOYBEANS /ZS trend reversal started?soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
CORN at major pivot/support pointcorn at daily double bottom, long off this support level or short on a breakdown
Corn OpportunityMany signs of bullish, nice opportunity guys!
In the other hand remember that if the bullish channel is broken this hypothesis is discarded.
CBOT:ZC1!
