CORN - SHORT Was long for 18 months, time to consider normalization of prices and OH YEAH, peak inflation is in.
XC1! trade ideas
CORN FUTURES MULTI-TIMEFRAME PROJECTIONLast Friday's Price action took out a short term low and rebounded to the upside, i'm expecting a retracement to my point of interest on intraday timeframes, i'll look to long this if it gives me a bullish reaction
$ZC Corn Futures Medium To Long Term Analysis #cornfutures Traders, This is the analysis of Corn Futures ZC.
1. Price made structure break which means more down side is expected
2. But the price can go back up perform
a. Sell Order Collection
b. Stop Loss Collection
c. Retest few levels
3. We currently have a wedge pattern which getting squeezed. A break below will push it to the lower FCP zone.
4. A break above can go to upper FCP zone which is very powerful and can have better sell orders. From there a short based on a confirmation will make more sense. This short then can be held for a longer period of time (if conditions are favorable) as the market structure has been broken (BOS) mentioned in the point 1.
Trade what you see and ignore any hypes. Stay objective.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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-Vik
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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BULLISH ON CORNGlobal uptrend, with an ascending triangle: the price has just broken up the resistance of the triangle.
The objective corresponds to the 50% Fibonacci extension level.
The bearish divergence on the Relative Strength Index (RSI) has just been invalidated
Fundamentals: dry climate conditions in South America (Argentina and Brazil) threaten corn (as well as soybeans)
=>BULLISH
CORN - LONGBeen long a long time all commodities. The trend here has been tested and held. Q4 Commodities higher, inflation increasing, growth accelerating. Stay long commodities and buy these nice pullbacks for now. At some point, this will change but that signal is not yet. This is also forming nice wave pattern setup to go along with the data. Personally, I think yields will be way better than expected and this will weigh on price, but for now I will stay with the data.
ZC corn futures ,short pullbackZC corn futures, GO short for tomorrow we have an interesting probability for sell
December 22' CornDecember 22 Corn - Weekly: From 2014-2020 Corn traded within a more definable market structure, 3.00-4.50(ish). During this time I would run previous years High to Low retracements on new crop contracts and place initial targets at retracements under 100% and hope to fill targets up to 127%. We are currently in the beginning stages of developing a new market structure where upside potential and downside risk is unmeasurable. So far we filled the 5.63 (141%) target, and close to the Primary target at 5.78.
The 5.50 area is tough Support/Resistance as the most volume has occurred at this price. Support is 5.14. Risk is 4.80-4.62
March 22 CornMarch 22 Corn - Daily: March Corn broke above the downtrend line and filled a Major Primary target at 6.15 with its 6.17 high. Last week’s 5.93 close matches the pivot high we are currently using for retracement targets, and it is resting against a current uptrend line that began in mid October. Also, the Heaviest amount of volume by price is between 5.75 and 5.85. This should act as solid support if the current uptrend line is broken. A move above 6.17 will look for targets up to the next major target at 6.51.
Support/risk below at 5.57.
Continuous CornCorn – Weekly Cont: Price action last week hit 3 major areas of resistance. (Downtrend line, Cloud resistance, and 50% retracement)
Targets above at 6.44 and 6.84. Primary target at 7.08 and then last year’s high at 7.35
Lower retracement targets (not shown) at 5.89, 5.71, 5.57, and 5.43. Risk is 5.20
Big Picture look at Corn Market structureCurrent Market Structure: **Sensitive, with extreme bandwidth** (IMO) The current Domestic and World; Supply & Demand numbers,paired with recent inflationary threats support a price base range from 4.75 to 5.15. There are to many variables that could change the fundamental picture and that is what this chart and the extreme bandidth is trying to tell us. 2014-2020 that was a 3.75 base. If the Market went to far above or below 3.75, eventually it came back to it.
Resistance above the 5.75 area at 6.50 - 7.35. **5.75+ is an area that some pricing and protection should be encouraged
Major Support is the 5.15 to 4.75 area. **Many 22’ break evens are coming in at this range. Eventually price will return to this area.
Risk is 4.00-3.80 range with further extreme risk at 3.00. We traded a 6 year range from 3.00 to 4.50, someday there could still be a pull back to that area
**This is a continuous front month chart, new crop (currently Dec 22’) targets should be considered when front month futures hit target areas…
Golden Cross Could Prime Corn Prices to Break Resistance Corn prices may soon receive a major technical boost by way of a Golden Cross formation, with the 50-day Simple Moving Average (SMA) on track to cross above the longer-term 200-day SMA. That may help prices to pierce above a descending trendline stemming from the 2021 swing high.
Brazilian Corn trend getting upBrazilian corn is showing some force to get long... for moment its a buy or getting ready to!
[futures] Corn - ZC - Hit 10% Target zone!Corn - ZC - Hit 10% Target zone! The price of corn is going up. Should be go to the grocery store now?
En seguimiento de el MaizEn etapa clave el maiz. Se repetirá la tendencia del peridos anterior?.. Los niveles de inventarios finales no son los mismos que de noviembre 2020, del mercado chino hay menos informacion que la temporada anterior. y los costos de fertilizantes npk han subido.
Up Trend I have mentioned at the photo the relevant Levels. A good chance to reach the first Target.
Corn Bearish Fibonacci PullbackCorn futures have completed a bearish fibonacci pullback and confirmed by rejecting the marked zone. This could present us with a great short opportunity.
December 2022 CornDecember 22 Corn - Weekly: From 2014-2020 Corn traded within a more definable market structure. 3.00-4.50(ish). During this time I would run previous years High to Low retracements and place initial targets at retracements under 100% and hope to fill targets up to 127%. We are currently in the beginning stages of developing a new market structure where upside potential and downside risk is unmeasurable. Friday we hit the 5.63 target and now within a day’s move to catch the Primary target at 5.78. At 5.50-5.78 I think it is wise to be 10%-25% sold. **Price before Time** Look at adding Shor Dated (May-July)puts to protect elevated break evens.
Support is 4.80-4.62. Risk below is wide open below
March22 CornMarch 22 Corn - Daily: Heaviest amount of volume between 5.75 and 5.85. This should act as good support or resistance as March takes the lead contract. Impressive intra-day recovery Friday. A break above $6.00 will have interest up to 6.15. Be careful of a bull trap in the 5.98-6.03 area. A quick move up and then close below the trend line would not look good.
Support is the 5.57 pivot low. Further risk is the dashed trend line down to the 5.20 area.
**Will run support targets once we get a confirmed swing high…
December 21 CornDecember 21 Corn - Daily: Corn had all the potential to fail on Friday as the world Financial and Energy markets caved on the latest news on a new Covid Variant. After gapping lower and trading most of the day lower, buyers came in late and gave the Dec21 contract its highest daily close since July…. that seems bullish. Volume was decent/strong for a holiday. Who bought this? Dec/March spread narrowed and commercial end users have had a very strong basis as of late. Maybe some strong commercial interest. Will be interesting to see what Dec 21’ corn does after 1st notice. Remember what Corn did end of April into May when May expired. Big pump, followed by a big dump….. Don’t sit on this. Sell some physical and re own with a call if needed….
Continuous CornCorn – Weekly Cont: Price action currently inside the cloud shows the potential for a wide range of movement.
Filled the 38% 5.88 target. Next line of resistance at 6.07 with a 50% target above at 6.16. Support is the blue Tenkan line at 5.47 with further support at 5.20. Risk below is the pivot low at 4.97 and then it is wide open.
Big picture Corn Market structureCurrent Market Structure: **Sensitive, with extreme bandwidth** The current Domestic and World Supply & Demand numbers paired with recent inflationary threats support a price base range from 4.75 to 5.15. There are to many variables that could change the fundamental picture and that is what this chart and the extreme bandidth is trying to tell us. Sensitive….
Resistance at the 5.75 area and then 6.50 - 7.35. **5.75 is an area that some pricing and protection should be encouraged
Support is the 5.15 to 4.75 area. **Most 22’ break evens are coming in at this range. Eventually price will return to this area.
Risk is 4.00-3.80 range with further extreme risk at 3.00. We traded a 6 year range from 3.00 to 4.50, someday there could still be a pull back to that area
**This is a continuous front month chart, new crop (currently Dec 22’) targets should be considered when front month futures hit target areas…
ZC futures LONG ZC is doing a really interesting pattern, touching the resistance and getting rejected so bad,
with the a VOLUME in the 15mins chart, the 1 hour chart, and also the daily chart.
so this is a really good chance to make money.
pullback is also done on the moving averages
