CORN - 1H - Technical analysis published on 04/03/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 653.75 USD
My targets
669.64 USD (+0.58%)
683.89 USD (+2.72%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CORN as long as the price remains well above 653.75 USD. The buyers' bullish objective is set at 669.64 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 683.89 USD. If there is any crossing, the next objective would be the resistance located at 707.25 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
9.1
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Additional analysis
Quotes
The CORN rating is 665.75 USD. On the day, this instrument gained +0.80% and was traded between 659.25 USD and 666.00 USD over the period. The price is currently at +0.99% from its lowest and -0.04% from its highest.659.25
666.00
665.75
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CORN indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 636.00 | 647.30 | 653.75 | 665.75 | 669.64 | 683.89 | 707.25 |
| Change (%) | -4.47% | -2.77% | -1.80% | - | +0.58% | +2.72% | +6.23% |
| Change | -29.75 | -18.45 | -12.00 | - | +3.89 | +18.14 | +41.50 |
| Level | Major | Intermediate | Intermediate | - | Minor | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 633.08 | 640.17 | 650.33 | 657.42 | 667.58 | 674.67 | 684.83 |
| Camarilla | 655.76 | 657.34 | 658.92 | 660.50 | 662.08 | 663.66 | 665.24 |
| Woodie | 634.63 | 640.94 | 651.88 | 658.19 | 669.13 | 675.44 | 686.38 |
| Fibonacci | 640.17 | 646.76 | 650.83 | 657.42 | 664.01 | 668.08 | 674.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 616.00 | 626.50 | 643.50 | 654.00 | 671.00 | 681.50 | 698.50 |
| Camarilla | 652.94 | 655.46 | 657.98 | 660.50 | 663.02 | 665.54 | 668.06 |
| Woodie | 619.25 | 628.13 | 646.75 | 655.63 | 674.25 | 683.13 | 701.75 |
| Fibonacci | 626.50 | 637.01 | 643.50 | 654.00 | 664.51 | 671.00 | 681.50 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 565.58 | 586.17 | 623.33 | 643.92 | 681.08 | 701.67 | 738.83 |
| Camarilla | 644.62 | 649.91 | 655.21 | 660.50 | 665.79 | 671.09 | 676.38 |
| Woodie | 573.88 | 590.31 | 631.63 | 648.06 | 689.38 | 705.81 | 747.13 |
| Fibonacci | 586.17 | 608.23 | 621.86 | 643.92 | 665.98 | 679.61 | 701.67 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 79.85 | |
| MACD (12,26,9): | 2.6900 | |
| Directional Movement: | 30.12 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 656.90 | |
| Parabolic SAR (0,02-0,02-0,2): | 651.72 | |
| Elder Ray (13): | 7.04 | |
| Super Trend (3,10): | 651.26 | |
| Zig ZAG (10): | 665.25 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 77.41 | |
| TEMA (21): | 658.98 | |
| Williams %R (14): | -2.67 | |
| Chande Momentum Oscillator (20): | 17.75 | |
| Repulse (5,40,3): | 1.3400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 2.74 |
| MA7: | 652.07 | |
| MA20: | 635.48 | |
| MA50: | 654.85 | |
| MA100: | 657.81 | |
| MAexp7: | 658.33 | |
| MAexp20: | 654.08 | |
| MAexp50: | 651.22 | |
| MAexp100: | 647.61 | |
| Price / MA7: | +2.10% | |
| Price / MA20: | +4.76% | |
| Price / MA50: | +1.66% | |
| Price / MA100: | +1.21% | |
| Price / MAexp7: | +1.13% | |
| Price / MAexp20: | +1.78% | |
| Price / MAexp50: | +2.23% | |
| Price / MAexp100: | +2.80% |
Quotes :
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10 min delayed data
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CBOT Futures
News
The latest news and videos published on CORN at the time of the analysis were as follows:
-
Farmers are battling corn surplus
-
Kellogg's apologizes after a Corn Pops box that some say 'teaches kids racism' ignites fury
-
Drought and corruption fuel corn crisis in Kenya | DW English
-
How corn mazes saved one family’s farming business
-
EU court backs Italian famer who grows GM corn against national law
This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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