Corn Futures poised for break through on weekly chart Break of dotted line signals downside breakout with target down near 420. Upward break of 580 suggests further range consolidation with upward bias. Potential for wave 4 consolidation here near support.by Wilson-Speculations0
Corn will find a new support around $500 It's a risky trade to buy or sell corn at this stage. Corn is at no man's land so it could either go high or low. We have seen corn go past $500 commonly after 2007 which was a rare event before. I can't predict the future but I can see why corn will make new support in this region. $550 - risky $500 - good opportunity to buy $450 - great opportunity to buy $350 - buy corn with all your money. You will make a fortune. Longby titus220450
December CornDec21 Corn-Daily: So far price action has respected both the red downtrending fork and the gray uptrending fork. It appears that if we continue with strength today that the bounce off each red and gray line match up with a bull flag and could follow through to fill the 5.99 target. That downtrend line will be tough resistance, but if broken I will line up remainder of targets above and would expect that a hit on the gray median line (highlighted with gray bubble) could mark the high (at least for some time ).by mtb1980112
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. Shortby Ceddy86Updated 1
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. by mtb19801
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 by mtb19802
Continuous CornCorn – Weekly Cont: Sep contract leading the continuous chart. The recent swing low at 5.20 nearly filled a correction target. If this low holds, retracement targets above will be used. First hurdle is the 24% retracement at 5.71. A weekly close above will give the bulls some breathing room. The primary target above is the 88% retracement at 7.10, but any target can turn this chart lower… Support is 5.20 with risk down at 4.66 by mtb19801
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. Shortby King_of_Beans0
Corn Nears Critical Test - Will Bears Gain More GroundCorn prices are up against the wall after a sharp multi-month drop. The rising 200-day Simple Moving Average (SMA), along with an area of support from January to March trading, may offer bulls a chance to regroup. The MACD and RSI oscillators indicate downward momentum may win out, however. A break lower likely opens the door for further losses. by Thomaswestw1
corn experiencing wild movement. back at support.Corn made a scary move upward, and had an equal downward reaction. Those moves were so volatile I don't know if it means they cancel each other out, or what the deal is, but corn is basically back where it started, which is above a trendline break and low in the range, which is an area for long considerations.Longby emehoke0
corn maybe.Corn is potentially setting up for a good move higher, but the staggered double top might dictate price lower still.by emehoke0
🌽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.by TradeWaves-EWA227
Corn Opening Bell Winner once againOnce again, I love volatility. The 9:30 opening bell is so many times an incredible thing. Look at the huge sideways action all night long and into this morning. I put a buy order in at 645 in case price action goes crazy at the opening bell and it did - straight up through my 30 HMA to my Take Profit of 40 points. Beautiful Monday!! Longby HEIKOTradingSystem0
Corn Prices May be About to CrashCorn futures (ZC1!) just came off the highest monthly RSI print since 2008 around an 82 handle. We're likely going to see a vicious correction in the near term. Seems like everything is on the verge of a major correction at this point. I wish the Fed luck...Shortby Hedge_Of_The_World224
ZCZ2021 Dec21 CornDecember 21 Corn - Daily: (red) Downtrend pitchfork’s median line is working with the (grey dashed) uptrend line to attract prices lower toward support identified at 5.15 to 5.25. Further risk 4.90 to 4.71 Key resistance targets above at 6.08 and 6.22. A breakout above could target any of the upper retracements in search of the primary target at 7.23 by mtb19801
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** by mtb19802
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. by mtb19801
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. Shortby Oppollo225
Short /ZC, revised with lower risk- Key reversal with inside day bar. - Unfortunately, this bar is a big inside bar; recommendation is to go short at open and cap it with the SL above the previous day's red bar. Shortby prashant_tr5
Short /ZC- Double top with key reversal on weekly. - Recent key reversal indicates end of uptrend and confirms lack of potential for any further upside. Shortby prashant_tr0
Jun 16, 2021 Corn WinnerGrabbed a quick 16 points this morning. I missed early morning as I was still sleeping but if I was awake at 6am I could have been in the trade at 665 instead of 670. As usual, I took my quick 16 points for a great morning win before the Fed 2pm Gong Show.Longby HEIKOTradingSystem0