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ZC1! trade ideas

Corn Futures Expected to Move Lower Towards 563'4Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Corn Futures ( ZC1!). Trend Analysis The main view of this trade idea is on the 2-Hour chart. ZC1! Hit some resistance around the 572’2 price level and is expected to move lower in the short term. This resistance is a lower high on the commodity and is expected to make another leg lower. Technical Indicators ZC1! is currently above its short (25-SMA), medium (75-SMA) and fractal moving averages. This price increase appears to be a counter trend move of an overall decline in the commodity. The RSI was overbought and is now trending lower towards the 50 level. Moreover, the KST is also displaying negative divergence as the indicator had a negative crossover. Recommendation The recommendation will be to go short at market. At the time of publishing ZC1! is trading around 563’4. The short- term target price is observed around the 548’6 price level, towards the medium term SMA. A stop loss is set at 572’2. This produces a risk reward ratio of 1.56.
CBOT:ZC1!Short
by Ceddy86
Dec21 CornDecember 21 Corn - Daily: The red down trending pitchfork is offering resistance against the 50% retracement at 5.59. I am not certain about the placement of the pivots for the gray uptrending fork, but the angles of ascent look appropriate based off the 3 previous moves up. A move above the 5.60 area will next target 5.71, 5.88, and 5.99. I believe these targets should be looked at to get caught up on sales or hedges (puts). I can still paint a picture that could move Dec corn to new highs that would have targets up to 6.75 (or higher), and I can make a case for risk at 4.88 to 4.55. Courage calls, puts, various option spread strategies can be looked at to manage risk on both sides.
CBOT:ZCZ2021
by mtb1980
Sep21 CornSep Corn – Daily: One could look at this and draw a triangle formation, or a down trending channel (as shown). Currently price action inside the cloud, with resistance overhead at the red Kijun line and 62% target of 5.85. 6.03 and 6.14 would be next key targets. A breakout above the channel would target the previous swing highs with retracement targets above up to 6.91 and 7.31. Support is 5.61 and then the swing low at 5.20. Further risk at 5.01, 4.87, and then 4.67
CBOT:ZCU2021
by mtb1980
December CornPossibly put the highs in for Dec Corn here...as shown in chart, we faded the gains from the bullish July USDA crop report (which showed lower acreage) on better weather forecasts after wknd of the 4th...weather maps less threatening in corn belt as of late and is bearish feature for the next few weeks should forecasts confirm. Condition ratings expected to increase. Spreads are firm though and there is some support from Bean oil as the Canola mkt is experiencing production issues due to ongoing drought. This feature could have potential to pull CZ higher but I believe the upside here is limited. I expect CZ to trade down to ~520 range and b/c range bound from there.
CBOT:ZCZ2021Short
by King_of_Beans
🌽𝘾𝙤𝙧𝙣 𝙛𝙪𝙩𝙪𝙧𝙚 - we buy canned food for the New Year🚜ZC1! : 🕐 2W Most likely, wave (V) of the "Supercycle" degree unfolding the ending diagonal I-II-III-IV-V , in which the growth is in wave III . ZC1! : 🕐 1W The growth marked with ((A)) is most likely over, although one more local maximum is not excluded. Further, a rollback is expected within the wave ((B)) of III , which has the right to take the form of any corrective pattern. CORNUSD :🕐 1D When the correction forms appear, at the completion of the corrective wave ((B)) of III , I plan to take a closer look at a long position on one of the available trading instruments, as well as at companies in the agricultural sector. The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
CBOT:ZC1!
by TradeWaves-EWA
2
ZCN2021 July21 CornJuly Corn – Daily: The (red) Downtrending pitchfork is in a battle with the (grey dashed) uptrend line. Price action may still target a move lower following the median line if the uptrend is broken. Support is 6.02, pattern targets have risk at 5.64 to 5.43. Resistance at 6.69, 6.85 and 7.07. If met, 7.07 should act as strong resistance and a breakout above could lift strong and fast to the Primary target at 8.17. **For trades, not much time left for the July contract before first notice day**
CBOT:ZCN2021
by mtb1980
ZC1! Continuous Corn ChartCorn – Weekly Cont: July Contract leading the Cont. chart back towards testing the blue Tenkan line at 6.60. A close below the blue Tenkan line is the first since August of 2020…Important for corn bulls to see this week close above the Tenkan. Support below is the May low at 6.02 and then the red Kijun line (trending higher) at 5.85 Resistance above at the recent swing high of 7.17 and then the 7.35 high. Targets above at 7.92, 8.36, 8.60 and 8.93.
CBOT:ZC1!
by mtb1980
do you smell the bullshit? fed keeps trying to feed us this narrative that inflation is going to be transitory.... that is not the way i have seen the world to work. once prices rise they never go down. think about your local retail store. once those 10 cent bags of chips went to 25 cents..... they never went back to 10 cents. actually now they are 50 cents. i drew a chart on how i see the movement of corn. down until end of august.....reach a peak sometime mid 2023. by that time i expect corn prices to be over 300% - 400% of what they were last year. my suggestion? get ahead of the curve. ask your manager for that raise. do not accept having your standard of living diminished because of some socialists in administration. stand strong and fight for your right to life liberty and pursuit of happiness. you can also expect some radical individual like trump to come back in 2024 as people will be begging for change.
CBOT:ZC1!Short
by Oppollo
2