ZC1! trade ideas
$ZC_F Corn COT position is ready to goCBOT:ZC1!
Large Specs/Money Managers are net short and Commercials are net long now.
This tends to be bullish if it broke out of TL resistance(Colored in purple).
Let's wait for confirmation. Until then trend is clearly down based on MAs(13, 50, 200MA direction)
LARGE Players Are Going LONG! CORN Long SetupHello everyone,
today I have a great opportunity from commodity markets for you.
CBOT:ZC1! broke from the long term trading range, but the lower prices were rejected and there are two Pinbars on the weekly chart. Also according to Commitment of traders index the large players are going long which makes it a very interesting setup for buyers.
Do you also watch COT? ;-)
John
FINEIGHT Team
Corn’s Fib Objective for Reached at Seasonal Low?Grains tend to hit their seasonal lows here in early May, as we get into the critical May-June growing season. On the daily chart, corn has traded down from it’s 460’0 highs of last year, using a 50% HWB short at 402’2 to make the run down to it’s Fib objective of 316’6. With price and timing lining up for a bottom here, we are looking for 50% Half Way Back longs and are starting to see the “green shoots” of a rising market here, with a short-term long objectives of 327’6. Further upside will be necessary to challenge the new HWB short, setting up at 351’6, which is likely over the next couple of months. So, look to be long Corn, especially from prices close to the 310’0 level. And look to sell in the 351’6 - 363’5 area on a bounce into the HWB short area.
CORN FUTURES as long as the price is above the white rectangle: next target 330
if the price forcefully breaks the white rectangle next target 308
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Corn | double bottom ending with pre-breakout buildup
US dollar seems weakening favour commodites
Corn has been a long down trend
now it formed a double bottom in 4H chart
and making a pre-breakout builup, which is quit bullish
adding RSI divergence
COT - Corn - LongComments: 5 years in a row this pattern seems to play out very well. Top in may/june and drop there after.
Cot 3y: 80.1
Cot 6m: 100
Rsi: daily bullish divergence
Price: good multiyear low support
Entry: 331.3/4
Corn Futures - Area Chart Analysis - Monthly ViewHello everybody,
Here is my chart analysis for Corn Futures.
Monthly timeframe & long-term vision.
Since its historical top at 806'4 Corn is on a downtrend.
Its bearish potential is really interesting.
Nevertheless, 300'0 price level could be the next support.
Indeed, Corn has been drifted in a range area between 320'0 & 440'0 since July 2014.
If the actual price breaks this level, Corn could reach the 200'0 price level which has been hit several times.
Between August 1998 & October 2005 but before also, I just don't have more space to show you that in this publication.
However, Pay attention for a possible pullback on the 300'0 price level !
I hope you'll like it !
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Thanks & see you !
Corn in the REALLY short termAs shown in the diagram. ABC corrective waves at this moment. Patiently holding my longs.
CornOn the 4hr chart we have a nice entry, the close above the 21 ema. Looking for a nice rally to the upside.
Great PotentialPurchased a lot of corn on 305 level, as I mentioned in the previous post. TP400, SL 280. Will add more if corn can fall to 236 level.
THE WEEK AHEAD: SNAP, NFLX, IBM EARNINGS; /ZC, /CLEARNINGS:
IBM (63/54) announces Monday after market close.
SNAP (92/102) announces Tuesday after market close.
NFLX (66/70) announces Tuesday after market close.
EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE SCREENED FOR RANK >50/IMPLIED >35%:
XLU (77/47)
GDXJ (77/84)
GDX (67/65)
SLV (66/45)
TQQQ (63/111)
USO (62/112)
XLE (59/70)
EWW (58/54)
EWZ (53/69)
XOP (59/91)
BROAD MARKET EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE:
IWM (72/54)
QQQ (47/38)
SPY (45/28)
EFA (44/31)
EEM (41/36)
FUTURES ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE:
/ES (44/40)
/NQ (47/39)
/YM (51/13)
/RTY 72/53
/CL (62/130)
/NG (94/71)
/GC (67/27)
/SI (66/43)
/ZC (57/28)
/ZS (33/17)
/ZW (27/31)
Notes: Pictured here is a /ZC August 21st 310/330 long call vertical, currently trading at 11.25 with a break even at 321.25 versus 321 spot. Ideally, you'd want to put this on with at least make one/risk one metrics, which would occur if the spread priced out at 10.00 even or below. /ZC is tantalizingly close to those August 2016 lows at 310 '06 ... .
Another future worth mentioning here: /CL. As I write this post, the May contract is currently trading at multi-year lows at 15.09, with the June contract trading at 23.66. May drops off this week with the question being how low the June contract will go. I continue to look to sell puts on weakness in the active contract at or below $20.
VIX/VIX DERIVATIVES:
VIX finished the week at 38.15 with the /VX term structure in backwardation.
Solid bottom Wow what a solid bottom. I think it won’t be a bad idea to start purchasing corns. Entry level will be at 318.2 and 305. I don’t really have a TP price for this. The potential looks huge.
CORN: bullish breakout on 4H timeframeA breakout of a descending straight line on 4H timeframe is about to occur on the corn and which is confirmed by an upward divergence on the MACD
