big potential that corn Will Go up
*Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
The CORNUSD, symbol ZC, is in a long-term Bear Market with price trading above the 50 week ema, but below the 200 and 800 week emas. The the long term emas are mostly flat, signaling accumulation / distribution. The price action appears to be finishing up the b-wave of a final y-wave down. This would correspond with a long-term commodities bottom expected in...
“Hmmm, whats corn up to?” Glad you asked.
Looks like harvest is upon us. All commodities are cyclical, and agricultural commodities are seasonally cyclical. The red cycle lines go back to when Noah came off the ark and so you could almost set this to your clock. Now I’m not about to speculate what market conditions cause the price to normally rise in corn; go ask...
Some small long delta in corn in advance of the WASDE report tomorrow ... .
Metrics:
Max Profit: 143.75
Max Loss: 106.25
Break Even: 377.13
Notes: Max is realized on a finish above the short call, but will look to take profit at 50% max.
Daily Chart Explanation:
- Price started its down move from the Major Resistance Zone.
- Price made a retracement towards the Middle Resistance Zone.
- Now, it should be strong enough to go down towards our targets to the Support Zone first and to the Major Support Zone then.
Weekly Vision:
Updates coming soon!
Corn has been consolidating recently following the 402 peak on 1D (RSI = 54.610, STOCH = 53.472, MACD = 0.760, ADX = 18.642) after the September Death Cross. A similar candle sequence took place in August 2018, when after a 1D Death Cross (MA50 under MA200) and a market Top, the price made a new Low (Higher Low on 1W).
Since the RSI is on the same zone as then,...
Daily Chart Explanation:
- On the Weekly Vision, price is in a huge lateralization, we see it has potential to move down towards the Support Zone.
- Now, price is on the Resistance Zone.
- We expect it to bounce from here.
- We are looking for sell setups on lower timeframes.
Weekly Vision:
Updates coming soon!
Daily Chart Explanation:
- Price started its down move after bouncing on the Major Resistance Zone.
- Now, price is on the Middle Resistance Zone.
- If it bounces from here, it has potential to continue its down move towards the Support Zone and, then, towards the Major Support Zone.
- We are looking for sell setups on lower timeframes.
Weekly Vision:
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4H Chart Explanation:
- Price is on a Micro Ascending Channel.
- Bearish Divergence on MACD.
- If price breaks the Channel, it has potential to move down towards the Middle Support Zone first and, then, towards the Support Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
M pattern
Looking at our daily continuous corn contract we will first use our indicators such as RSI, Stoch RSI, and
MACD to determine possible directional position.
Or RSI is heading down the slightest but has been at this high level three major times with no success to
break through and has gone flat. Our Stoch RSI shows slight less buying pressure with the...
4 Hour Chart Explanation:
- Price started its down move on the Resistance Zone.
- Now, it is on a Bearish Corrective Structure.
- It has potential to move down towards the Middle Support Zone and, then, the Support Zone indicated on the chart.
Check out our last predictions on CORN (they were really precise)!!!
Weekly Analysis:
Daily Analysis:
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ZCK2020-ZCU2019
Spreads on corn futures almost reaching Take Profit.
Spreads are one of the most profitable forms of trading there are thanks to the statistical advantage on the seasonality of commodities.
If done respecting the rules of operation, you get on average a Winrate of 87% with a Risk Reward of 2/1.
Joe Ross is my greatest master in this field.
Wheat found a bottom and has been trending up, If it could get past the report on monday or better yet rally on it, we could safely call a significant bottom in place. If you're not long from lower, it's probably better to stay on the sidelines until after Monday's report
Corn bounced right off the range I mentioned on my last idea, Aggressive traders might go long here but it's probably best to wait for MACD signal and further strength. Seasonally corn is Not bullish at this time of the year, so it's best to be careful with longs
**If you're interested in joining a group of like-minded traders, send me a PM. This is NOT a...
Daily Chart Explanation:
- Price bounced on the Major Resistance Zone and started the down move.
- It reached our first target for the bear move at the Middle Support Zone (4.00).
- Now, it has potential to move down towards our second target at the Support Zone (3.395).
- We are looking for sell setups on lower timeframes.
Check our our Weekly Vision. Updates...
