Don't forget about this perfectly neutral chart!These kind of tight consolidations lead to heavy breakouts and big moves... to be continued...
ZC1! trade ideas
Corn estimation for 4 next monthEither you can buy the support and sell the resistance or you can wait for a break... and if you're more carefulle wait for a pull back !!
Keen an eye on corn!!Hey guys
Corn market is interesting right now.
Weekly: Price is just being bid at kijun sen but failing to break out. Macd is crossed down.
Daily: It is a chop fest but daily macd is again crossed down.It is still in channel. I expect this to resolve sooner or later . I am currently monitoring it for potential trade set up. My bias is it breaks down to the downside before a big rally . Will post the set up in comment sections one it arrives. Just add to your watchlist if you trade it.
Stay tuned.
Soon, not now.It is very rare to see such a neutral setup like Corn. It is a perfect indecision.
As you may know, my bias is still bit more bullish. Does it mean I have a position? No. We need some patience, have to wait for the breakout and firm buy signal.
Corn: Bear Flag Under the TrendlineLooks like a flag to me.
My indicators do not yet align with the idea on this time frame...I will update using lower time frames below.
Also note the bearish 2618 set-up which completes @ 393.
If you have any comments or feedbacks on this idea or your own view on Corn, please share!
Fight for the key levelsWeekly:
- Neutral Ichimoku, but price holds above weekly Kijun -> minor positive. Next important levels above are weekly Tenkan at 370 and Senkou B at 378.
- haDelta and haOscillator are still above mid lines, but their strength is a question
- EWO is positive
- MACD shows consolidation
Daily:
- Ichimoku setup is neutral, Price is trying to recapture bullish zone above 370
- Bullish trendline holds
- Heikin-Ashi gives an early buy signal -> please see candle, haDelta+ and haOscillator crosses
- EWO is minor positive
- MACD is neutral/minor positive
I still have bullish bias for Corn, until it is above 355
Corn Bearish CypherJuly Corn is falling from downtrend line last 4 days creating a bearish Cypher pattern. Target for today 364. After that a potential target of 356'2 to bottom out RSI.
Neutral now at equilibrium. Watch for breakout!- The stup is neutral now. Price, Tenkan and Kijun are all in the flat thin cloud.
- Volatility is quite low
- Tightenning triangle. The breakout will bring a quick pickup in momentum
- Heikin-Ashi shows indecision
- Minor bullish view until price holds above Kijun + EWO is green.
- MACD is neutral.
I still have some bullish bias on Corn, espec that I expect USD to weaken more, which should help a bit agris to tick higher. The real key levels are 372 and 378.
Please not May/June contract switch is happening soon. May notice date is 28/April.
Corn Up on USDA ReportLower acreages on Corn have provide an upsurge. Next upside target for Corn is above the 50 day moving average at 380'6 to test resistance. Looking for completion of a bearish butterfly on spring rallies.
Corn & Crude - The long term connection CORN FUTURES vs CRUDE OIL FUTURES
Daily for 7 Years
Would anyone believe that these two markets are somehow this intertwined?
Corn and Crude are like two people walking across a field tied together with a rope. Sometimes one gets away from the other and then they come back together and the other one might stray away.
Using this chart, the decline in Crude Oil could have been telegraphed by the drop in Corn.
Tim
Wednesday April 29, 2015 8:38AM EST ZC1! 363'6, CL1! 56.81
A swing up to 363-367 is possible in Corn- Ichimoku is bearish, but Chikou Span hits past resistance.
- Bearish supports are 362 / 364,85 / 370 (strong supp/res)
- Heikin-Ashi signals a pause, consolidation or minor pull back is possible. haDelta+ and haOscillator tick higher, some short term positive divergence in both.
- EWO adn MACD are bearish
Better risk/reward is still on short side, if market reaches 364 +/- and you see a sell signal there.
short term,short covering rally ?Looking for a short covering rally into Fri. planting intentions report and qtr.stocks
Corn forming CypherMay Corn is forming a Cypher pattern on another down day. Market bought it back somewhat, but we will probably see another down day to 357'4 area. RSI is still down, and Open Interest is starting to roll suggesting a turn. Could see mixed to further down selling until end of week.
Corn Bullish FlagMay Corn created a bullish flag today. Waiting for confirmation tonight and into tomorrow. Corn hasn't made complete 78.2 fall, but this may be as low as corn goes for the moment for a retrace. Flag has both candles pretty close to the same size which is a good sign. Also looking for start of corn in around mid of flag. Upside target 368'4
Corn CrashedCorn is setting up a bullish Gartley pattern. Went below two uptrend lines and stayed below. Bearish Thursday USDA report may see continued drop to 357'4.
Corn looking bearish...Hello all
Just a quick post on corn. Not showing weekly chart here . But weekly is at resistance. Daly is in 7 month long channel and there is trendline there too. looks like it attempted to break it. I will be watching this closely . Any spike higher towards kijun and failure is swing sell targetting previous lows. Let's see how this plays out.
Good luck everyone.
Bearish Corn on USDA reportMay Corn fell further today. Came to trend line. USDA report bearish. Looking for Corn to break trend in the next day or two. Projected Gartley to 357'4
Corn Bullish FlagMay Corn produced a bullish flag today. Upside target 387'2 for triple top with possible continuation to 391'4 at Cypher C position and possible extension into 396 area. Support at 376'4
Update on Corn Futures: retrace, then next leg upThis is a follow up on this forecast:
Still bullish on Corn, after a surge up price retraced.
At this moment Corn is still in that retrace, but expect the next leg up soon.
CBoT corn dailyThe daily MAY17 chart shows that price has been under influence of a solid horizontal resistance line at around the 375 level since October 2016. Price managed to break same resistance on February 7 from where price traded up to 385 until price made a reverse and started trading down towards same 375 level which now serves as support. During the last 2 sessions of last week price actually pierced through same supportive value. However, the green triangle that has been put into chart represents a strong supportive zone which comes from the horizontal trend line at around the 375 level and the ascending trend line which represents the lower boundary of the ascending price channel.
Friday’s candle in the shape of a so-called ‘Hammer’ suggests that the end of the decline of the past 6 sessions is now imminent and that price will find a bottom here. We will allow price one or two more down sessions towards the 363 level before we will consider an alternative short term outlook for this price.
