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Corn

Bullish time in CORN ahead \o/You can see here the CBOT:ZC1! price displayed in a line chart. After reaching its high in early 2022, the bears took control, driving the price down significantly until now. The factors in play are as following: Seasonality: Corn prices have historically shown strength from December through March, aligning with planting and crop cycles. This seasonal trend could provide a solid backdrop for a potential price recovery. (highlighted in green on the chart) Interest Rates: We’ve reached a pivotal moment in the Federal Reserve's interest rate cycle. The rate hikes that began in March 2022 coincided with the start of the bearish trend, while recent rate cuts in September 2024 may support a rebound in commodity prices, including corn. This shift in monetary policy could act as a bullish catalyst for corn and other commodities. (highlighted in orange on this chart) Technical Indicators: For additional confirmation, one could wait for a bullish crossover of the moving averages (a golden cross). Such a cross would reinforce the technical setup and definitively signal the onset of a new bull market in corn. With these factors in play, corn could be setting up for a strong rally in the months ahead.
CBOT:ZC1!Long
by p4917
Corn Reversal: Classical 5 bar trend confirmed!Corn CBOT:ZC1! is showing signs of a reversal, and it has confirmed the following: The daily trend was activated at yesterday's close, with enough momentum to push above 450. The weekly trend is also active, following a classic five-bar trend pattern, indicating a strong reversal signal. Once it reclaims 433, it should quickly move toward the first target of 466. If everything aligns as expected, it could aim for a break of the current trend. For now, it’s important to take it level by level.
CBOT:ZC1!Long
by ZelfTrade
5
15% to 35% Upside Ahead for Corn (Divergence Strategy)Corn recently has had the monthly bullish divergence confirmed with Septembers monthly close. This has major implications for corn, as I anticipate corn to now trade up at least 15% from current prices, up to a max move of approximately 35%. Monthly divergence triggers such as this are signals that the prudent trader must pay attention to. This does not mean I anticipate this market to go straight up from here. However, it does mean that, in my opinion, dips are for buying in the Corn market until we reach these upside targets. Have a great week.
CBOT:ZC1!Long
by Tradius_Trades
Can Corn Conquer Climate Change?The global food system is under siege from the escalating climate crisis, and corn, a pivotal commodity, is facing a particularly formidable challenge. Rising temperatures, erratic rainfall patterns, and the increased prevalence of pests and diseases are all conspiring to undermine corn production. This article delves into the intricate relationship between corn and climate change, examining the potential consequences for food security, economic stability, and social well-being. Beyond the immediate threats posed by climate change, the impacts on corn production can have far-reaching consequences. Reduced yields can lead to price volatility, making it difficult for low-income households to afford basic food staples. This can contribute to food insecurity and malnutrition, particularly in vulnerable populations. Moreover, corn production is a major source of income for many farmers, especially in developing countries. Climate change-induced crop failures can have devastating consequences for rural livelihoods and economic stability. However, the challenges are not insurmountable. By adopting sustainable agricultural practices, investing in climate-resilient crop varieties, and fostering global cooperation, we can safeguard the future of corn and ensure a more sustainable and equitable food system for generations to come. Climate-smart agriculture, which includes practices like crop rotation, cover cropping, and precision agriculture, can improve soil health, reduce water use, and enhance resilience to climate change. Additionally, breeding for resilience can develop corn varieties that are more tolerant to heat, drought, and pests. Furthermore, promoting crop diversification can help reduce the risk of crop failures and ensure food security even in the face of climate-related challenges. Governments can also play a crucial role in supporting farmers by providing financial assistance, access to climate information, and investments in agricultural research and development. In conclusion, the future of corn is inextricably linked to our ability to adapt to a changing climate. By embracing sustainable practices, investing in innovation, and fostering global cooperation, we can ensure that corn continues to play a vital role in feeding the world. It's a call to action, a challenge to rethink our approach to agriculture, and a reminder that the future of food is in our hands.
CBOT:ZC1!Long
by signalmastermind
Corn Futures:Evaluating Seasonal Trends Amidst Market VolatilityAs April unfolds, investors and traders in the corn futures market find themselves at a critical juncture marked by seasonal trends and heightened volatility. Historically, April has been a period of growth in corn prices, driven by various factors including planting intentions, weather conditions, and demand patterns. However, the current landscape presents a complex picture influenced by a myriad of geopolitical, climatic, and logistical disruptions. While the overall corn production from key sources such as the US, Brazil, Argentina, and Ukraine has remained relatively stable, the market has experienced significant turbulence. Geopolitical conflicts, including trade disputes and tensions in key producing regions, have added layers of uncertainty, impacting supply chains and trade dynamics. Severe weather events, ranging from droughts to floods, have disrupted planting schedules and crop yields, further exacerbating market volatility. Additionally, transport issues, including congestion at ports and logistical bottlenecks, have contributed to fluctuations in day-to-day prices and overall market sentiment. Amidst this backdrop, market participants are actively seeking long setups, anticipating a potential upswing in corn prices. Historical data indicating seasonal strength in April provides a compelling rationale for such positions. Moreover, underlying factors such as resilient demand from sectors including animal feed, ethanol production, and food processing continue to support a bullish outlook for corn. However, navigating the corn futures market requires careful consideration of both macroeconomic factors and micro-level dynamics. Traders must remain vigilant in monitoring weather forecasts, geopolitical developments, and supply chain disruptions for timely decision-making. Additionally, leveraging technical analysis tools and risk management strategies can help mitigate the impact of market volatility and optimize trading opportunities. In conclusion, while April historically heralds a period of price growth in corn futures, the current environment characterized by heightened volatility necessitates a nuanced approach to trading. By combining an understanding of seasonal trends with a comprehensive assessment of market fundamentals and risk factors, traders can position themselves to capitalize on potential opportunities while managing inherent uncertainties.
CBOT:ZC1!Long
by FOREXN1
1
🔥Corn Returm Bullish Trend🔥The corn market is buzzing with positive signals today , promising strong profit potential for investors. Our assessment is spot on as corn prices are exhibiting a robust recovery trend. Across all key timeframes - 4 hours, 1 day, and 1 hour - the upward trend is evident, presenting golden opportunities for investors to seize. Particularly noteworthy is the emergence of a compelling Order Block resistance zone on the 1-hour chart. This resistance zone signifies significant illiquidity at a specific price level, highlighting it as an ideal buying point to ride the upward trend. Based on our in-depth analysis, we strongly believe that this is an opportune moment for investors to initiate long positions in corn. The Order Block resistance zone on the 1-hour chart serves as a key to unlocking near-term profits. BUY LMT ZCEN24: Entry: 444''0 STP: 439''6 TP: 458
CBOT:ZCN2024Long
by MXV_AnfinTrading
1
Corn Prices To Fire Up on Rising Energy CostsIt is official. Inflation is back. But not everywhere. Food inflation is on the decline. All three major crops, Soybean, Wheat, and Corn have declined substantially. Bearish sentiments rings loud across agri with ample supplies combined with solid harvest expectations. Among crops, corn has fared best. Its prices have not declined as much. Corn outlook is positive given South American supply uncertainty and gasoline linked demand spike. Corn prices face downside risk from ample supply in the near term. Prices have the potential to spike during later part of the year due to supply uncertainty and higher consumption. Traders can deploy a calendar spread in CME Corn futures comprising of a short September 2024 Corn Futures (ZSU2024) and a long March 2025 Corn Futures (ZSH2025) to gain from shifting dynamics. RECORD US CROP WILL SUPPRESS NEAR TERM CORN PRICE The US produced a record 389.69 million MT of corn last year as per latest USDA figures. Massive production is a result of record high yield of 177.3 bushels per acre. Globally, corn production in the current marketing year is expected to reach a record 1,227 million MT, due to the US crop last year. Higher supply is expected to lead to a buildup in ending stocks. Stocks are expected to increase from 302.19 million MT to 318.28 million MT. This represents a buildup of almost 16 million MT. Ample supplies are a headwind to near term corn prices. USDA ESTIMATES MAY BE TOO OPTIMISTIC Global corn production forecasts by USDA may be too optimistic. Upcoming harvests from Brazil and Argentina may spring surprises to the downside. USDA’s forecast for the Brazil corn crop is currently at 124 million MT. Brazil’s national agricultural agency - CONAB - puts the harvest at 110.9 million MT as per their latest crop survey . The difference stems from USDA’s assumption of higher planted area. CONAB recently cut its estimate for planted area pointing to lower crop prices dissuading farmers from planting corn. Planting in Brazil is delayed from its usual schedule. USDA is also optimistic about the Argentinian crop. It reduced its forecast for Argentinian corn by 1 million MT to 55 million MT in the latest WASDE report. However, that is still optimistic given the ongoing spread of spiroplasma disease. Last week, Argentina’s Rosario Exchange slashed corn estimates to just 50.5 million MT from a previous forecast of 57 million MT citing crop loss linked with diseases. USDA estimates are 18 million MT higher than harvest forecasted by regional agencies across Brazil & Argentina. Corn supplies may end up being much tighter than the USDA is currently forecasting if harvests come softer than anticipated. ETHANOL PRODUCTION IS LIKELY TO INCREASE CORN CONSUMPTION USDA increased its forecast for corn consumption for ethanol production by twenty-five million bushels (635k MT) in the latest WASDE report. With gasoline and crude prices on a tear, ethanol blending into gasoline is likely to remain elevated during the coming months driving corn demand. Sustainable Aviation Fuel (SAF) serves as another source of corn demand in 2024. The Biden Administration is set to release its primary climate model for SAF subsidies under the Inflation Reduction Act in the “very near future”. While recent reports have stated that the model may be restrictive compared to corn-ethanol industry expectations, the subsidies will undoubtedly drive higher demand for corn-ethanol. CORN FUTURES CONTANGO IS STEEPENING Corn Futures term structure has become noticeably steeper over the past three months. Premium for dated contracts have increased. Specifically, corn delivery in later part of 2024 and early 2025 command higher premium. MARKET METRICS ARE TURNING LESS BEARISH FOR CORN CME Corn Options positions are currently skewed bullish with a put/call ratio of 0.84. Over the past week, bullish positioning has increased with large call option buildup on June (OZCN4) and December contracts (OZCZ4). Asset managers have also started to reduce net short positioning on CME Corn Futures since positioning reached its all-time low mid-February. HYPOTHETICAL TRADE SETUP South America corn supply remains uncertain even as the US delivers a record harvest. Corn prices will remain bearish in the near term amid ample supplies. Longer term, supply shocks and rising demand has the potential to send corn prices higher. This is evident from steepening contango in CME Corn Futures. To express the view on corn prices increasing towards the end of the year, traders can establish a calendar spread comprising of short position in September 2024 futures (ZCU2024) and a long position in March 2025 futures (ZCH2025). CME corn futures offer deep liquidity even for contracts in 2025 allowing such calendar spreads to be executed efficiently. A hypothetical trade setup comprising of the calendar spread consisting of short ZCU2024 and long ZCH2025 also offers margin benefits. The calendar spread position is margin efficient with the entire position requiring margin of just USD 350 as of 15/April/2024. This position not only benefits from the supply trend but also the seasonal trend in corn prices. Corn prices tend to rise from October through February due to seasonal factors. Between April to September, prices tend to decline. This hypothetical spread is supported by both trends. • Entry: 1.06185 (ZCH2025/ZCU2024 = 485/456.75 as of 12/April) • Target: 1.076 • Stop Loss: 1.052 • Profit at Target: USD 323 (Target price = 1.33% higher than Entry => Profit = 1.33% x notional = 1.33% x (485 x Contract Size) = 1.33% x (485 x 5000/100)) • Loss at Stop Loss: USD 225 (Stop level = 0.93% below entry => Loss = 0.93% x notional) • Reward to Risk: 1.44x MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
Editors' picks
CBOT:ZCH2025
by mintdotfinance
8
CORN Excellent 4-month buy opportunity.Corn's (ZC1!) price action since the COVID recovery in early 2020 is showcasing an amazing resemblance with the previous full Cycle of 2009 - 2014. This is better illustrated on the 1M (monthly) time-frame. Both started the Bull phase on a roughly +175% rebound on the 17 year Support Zone, topping on a Higher Highs (which was a Bearish Divergence with the Lower Highs of the 1M RSI) and then declined both astonishingly by -51.93%. This is where the market is at now. In 2014 the price rebounded by +28.78% back above the 1W MA50 marginally and just below the 0.382 Fibonacci retracement level, before resuming the long-term decline to the 17 year Support Zone. As a result, this presents an excellent 4-month buy opportunity with 506'4 as the Target (+28.78%). Notice also that the 1M RSI is on the exact same level (33.75) as it was on the January 2014 Low, and is reversing. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CBOT:ZC1!Long
by TradingShot
CORN - KEYLEVELS - 2DHere I am neutrally bullish, we see a (possible) double bottom, which if it breaks the next level of resistance, could bring buyers and even greater interest. On the other hand, we must take into account that this correction is normal for grain, taking into account that the situation in Ukraine has calmed down and grain exports have resumed, thus all that growth since the beginning of the war, has now been closed and completed by a correction. The price is also decreasing due to the fact that the grain harvest was done in August-September and the stocks are full, but with the time when we get closer to spring, the prices must rise again.
SKILLING:CORNLong
by sfc95
10 Year Corn Projection (potentially)10yr Corn outlook: 1 thought (of many) on the potential course of the corn market for the next 10 years. I feel the job of the current market is to find a price high enough to ration future demand. Could be current price, 8.50, or 9.50. The potential is there for any of those numbers to mark a major swing high for Corn. The higher that mark is nearby, the more corn begins to ration future demand. The low found after a major high is made, could mark an area for the future multi year market structure. The market should remain very sensitive for another few years. Sensitive to world demand and production misses across the globe. There are many climate cycles coming ahead that could add to potential Ag production shortages. **Not a prediction, something to watch** At some point we return to a tighter, more defined market structure working low prices against the long term uptrend line… 4.50-5.25 ???
CBOT:ZC1!
by mtb1980
4
🌽 Corn Technical Analysis (GrainStats)Corn Fundamentals ( CBOT:ZCZ2023 ) Corn Harvest Progress 🚜➡️🌽 ▓▓▓▓▓▓▓▓▓░░░░░░ 59% Export Inspections 🚢➡️🌎 437,549 Metric Tons ⬇️ 29,055 Metric Tons week vs. last week ⬇️ 22,514 Metric Tons this week vs. this week last year ⬇️ 370,24 Metric Tons this week vs. 5-year average Export Sales 16,176,285 Metric Tons (Cumulative, Current Marketing Year) ⬆️ 2,753,396 Metric Tons this week vs. this week last year Noteworthy News / Themes 🟢 Argentina is behind pace on Corn planting (12% complete) 🟢 US River levels have improved on the Mississippi river (barge freight down) 🟢 Mexico purchased 117,200 metric tons in a flash sales news announcement 🔴 The US still has a +2 billion bushel carryout 🔴 Corn failed to stay above $5.00 futures 🟢 Dry forecast in Argentina 🔴 Wet forecast in Brazil Corn Technicals Corn couldn't settle above $5.00 for too long given the ample expected carryout being priced into the market in the middle of harvest. Consider the sales that were sold above $5.00 as a gift to the farmers and we hope farmers prices some bushels. Outside of this, there really isn't much to say anymore about this market except that after 3 years of a bull market, we're finally getting back to reality and reality in the grain market is quiet. Watch the following levels for now👇 🟢 Current Upside Target: 5.00 🔴 Current Downside Targets: 4.74, 4.675
CBOT:ZCZ2023
by GrainStats
Is Corn Ready To Pop?Last week, we were looking for a potential bottom in corn. Since then, we’ve mostly traded sideways to slightly higher. However, the end of this week brings a “triple-witching” event - the end of the month, the end of the fiscal quarter, and the quarterly grain stocks report all occur on Friday. In last quarter’s grain stocks report, the market sold off fairly sharply as corn stocks were reportedly 54% higher on a year-over-year basis. The contract’s resilience in defending the lows is very encouraging considering the positioning of managed funds. In the chart below, you can see that managed funds have amassed a substantial short position over the course of the last 6 weeks. As of last Friday’s CFTC Commitments of Traders report, managed funds held 319,079 short positions. Meanwhile, prices have maintained a very tight 15-20 cent trading range. As such, there is significant fund rebalancing in Friday’s session, it may induce a short-covering rally. What does that mean? In order to exit a short position, the contract holder will have to buy a contract. If there is substantial buying volume, it will press prices higher, and force short-positions to exit ultimately resulting in a rally. The question then becomes - how high can we go? Considering that the December corn contract was unable to close above 500 a single time in the month of August or September thus far, that may be an ambitious initial target. In order to retest 500, and ultimately our 502-506 ½ 3-star resistance pocket, we will have to surpass 3-star resistance between 489 and 491. If we manage to trade through 491, it could lay the foundation for December corn to surpass 500 once again. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZC1!
by Blue_Line_Futures
Is Corn Price on the Edge of a 25% Drop?In this idea, I am trying to read and forecast the behavior of the chart in the next 4.5 months . I do not follow corn production, harvest, demand, etc. Since April 2022 (its 9-year highs) has lost about 40% . Its relatively long-going bearish trend means that most of the drop likely has happened. Let's quickly study previous drops that lasted more than a year and erased more than 40% of the corn price. The last one started 11 years ago. It happened during world economic growth. The price lost more than 61% for 26 months of the trend. Another drop occurred during the GFC and lasted for 24 months. Corn lost 60.5% of its price. Important to note that the price reached its lowest point in December 2008 (in the sixth month after the drop started), then the price fluctuated and reached about the same level in September 2009. Considering the crisis and its trend low reached in 6 months, it is not the perfect example to compare with the current 2022-2023 corn price trend. Let's continue to delve into the past! 44% tumble was printed between April 2004 and November 2005, i.e. 19 months . Sending back 17 years ago, we can see a 64.4 % drop in 25 months . Here we are in 1983, the era of high dollar inflation (and not only). The Fed chair Volcker Jr. is fighting with inflation ECONOMICS:USIRYY , and America is recovering from its 1979-1982 recession. The world economy is starting to recover from recession/slowdown too. Between late August 1983 and February 1987 ( 43 months ), corn prices fell by 61.9% . These data series are not enough to firmly generalize bearish trends . Besides, price movements in the past do not determine possible future patterns. We can gently conclude that a bearish trend in corn prices that lasts more than a year could last between 19 and 43 months and show a drop between 40 and 64.4%. In view of those facts and the performance of the corn daily prices in the last 1.5 months, I forecast several scenarios. In the first one, I expect that the price would break the 469-470 support zone and come to 400 cents per bushel until the end of September . Then I expect some correction lasting 3-5 weeks. And the realization of scenario #1.5 (continuation of scenario #1), we could see a breakout of 400 cents and move to 345 cents per bushel before the end of the year . That would be the low or almost the low of the current long-term bearish trend for maze price. Combined scenarios #1 and #1.5 would mean minus 25% from the current price and a drop of 57.5% since April 2022. There are two alternatives . In scenario #2 after reaching 400 cents, the price would return to 470 cents . In scenario #3 the current support zone would be a minimum of the trend for the next 4.5 months.
CBOT:ZC1!Short
by Nikita_Kalinin
Corn: Prepare to pop 🍿Corn has continued to sell off over the last few days and is now approaching our blue buy zone from USX 496 to USX 470. The downward movement in the form of the blue wave (b) should end there. Subsequently, we expect the blue wave (c) to rise to around USX 600, making it worthwhile for prospective buyers to place long orders in our blue buy zone. Our alternative scenario, with a 25% probability, occurs if the price falls further than we expect. In this case, a break of the support level at USX 474.25 would give it significant downside momentum that buyers should take note of.
CBOT:ZC1!Long
by MarketIntel
1
Continuous CornContinuous Corn – Weekly: (Busy Chart) Currently in a sideways grinder going into an acres battle and Weather Market. Do not hesitate to Make decisions. The Red downtrending pitchfork controls the trend. Nearby resistance against the upper red line is set up with the 6.93 retracement target but volume by price resistance at 6.75-6.80. If the red line is broken for a short time look at further retracements that coincide with the lower blue line on the uptrending pitchfork. (7.24, 7.68, and 7.94) Theoretically the blue uptrend fork is still in play as long as the dashed gray uptrend line is not broken. Should we break below 6.23 then we most likely will see a test of the median line before we see 7.00 again. Median red line support in the 4.50 area targets Dec futures this Fall… **Many If/Then scenarios at Play** Volume by price acts as a magnet. Currently the 6.75 area is pulling it up and would be resistance. The next volume spike by price is the 5.50 area and then the 4.25 area. This will act as support/risk moving forward as contract months roll forward...
CBOT:ZC1!
by mtb1980
It’s Corn!You know the “It’s Corn” song trending on TikTok? It brings a smile to our face every time we hear it. But if you look at Corn’s price chart and fundamental outlook, that’s a whole other story… Corn’s recent breakout of a symmetrical triangle towards the downside caught our attention. With the clear break and an ensuing retest, Corn is now trading right on previous support levels. We think this might just be a small reprieve in the downward direction it is headed. Not only that, when you zoom out to a longer timeframe, Corn has just broken its long-term trend support established since 2020. This combined with the symmetrical triangle break proves to provide a strong bearish case from here. Classical chart pattern analysis points the take-profit range from the triangle pattern, at roughly 292 points away. From the initial point of breakout, 292 points away takes us back to the 360 level which was the average price seen from 2014 to 2020, back to pre-covid and pre-Russian/Ukraine conflict levels. Additionally, in a or few previous analyses we emphasized how many of the commodities have started to return to ‘normality’ with prices moving back to pre-war levels. We have already seen Wheat and Soybean retracing most of the War rally as prices tumbled, therefore it’s not hard to see Corn do the same soon. Other supporting fundamental factors include the falling Ethanol prices and in turn, lower usage of corn for Ethanol, resulting in overall supply to increase. Fertilizer prices have also fallen from all-time highs, with continued downward momentum. Lower fertilizer cost means better margins for the farmers and potentially higher usage of fertilizers in planting, which may result in better crop yield. Both factors work to lower corn price through more competitive pricing from the farmers and increased supply. Combined, we think the fundamental and technical chart set-up provides a convincing case for Corn to fall lower. We set our stops above the triangle apex and at the previous level of resistance, 688, and our initial take-profit levels at 565 followed by 455, giving us a risk reward of roughly 1.46 and 3.66 from the current level of 637.6. Each 0.0025 point increment in CME Corn Futures is equal to 12.5 USD. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com
CBOT:ZC1!Short
by inspirante
1
Corn Futures ( ZC1! ), H4 Potential for Bearish DropTitle: Corn Futures ( ZC1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 688.50 Pivot: 673.00 Support: 648.25 Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. To add confluence to this bias, price is also within a descending channel. If this bearish momentum continues, expect price to possibly retest the pivot at 673.00 where the overlap resistance and 50% Fibonacci line is before heading towards the support at 648.25, where the previous swing low is. Alternative scenario: Price may head back up to retest the resistance at 688.50 where the recent high is located. Fundamentals: There are no major news.
CBOT:ZC1!Short
by Genesiv
Corn Futures ( ZC1! ), H4 Potential for Bearish DropTitle: Corn Futures ( ZC1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 688.50 Pivot: 673.00 Support: 648.25 Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 648.25, where the previous swing low is. Alternative scenario: Price may head back up to retest the resistance at 688.50 where the recent high is located. Fundamentals: There are no major news.
CBOT:ZC1!Short
by Genesiv
Corn Futures ( ZC1! ), H4 Potential for Bullish ContinuationTitle: Corn Futures ( ZC1! ), H4 Potential for Bullish Continuation Type: Bullish Continuation Resistance: 706.50 Pivot: 6681.00 Support: 673.00 Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 706.50, where the previous swing high is. Alternative scenario: Price may head back down to retest the support at 673.00 where the recent low is located. Fundamentals: There are no major news.
CBOT:ZC1!Long
by Genesiv