CORN

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	C
ISIN:

CORN - 1H - Technical analysis published on 05/20/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

My opinion

Bearish under 460.50 USD

My targets

449.83 USD (-0.92%)

425.00 USD (-6.39%)

My analysis

The bearish trend is currently very strong for CORN. As long as the price remains below the resistance at 460.50 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 449.83 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 425.00 USD as an objective. Crossing it would then enable sellers to target 347.71 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

6.1

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Barts_XV. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

CORN rating 454.00 USD. On the day, this instrument gained +0.33% with the lowest point at 452.25 USD and the highest point at 455.50 USD. The deviation from the price is +0.39% for the low point and -0.33% for the high point.

452.25

455.50

454.00

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by CORN:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of CORN in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back under the pivot point

Type : Bearish

Timeframe : 1 hour

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	347.71	425.00	449.83	454.00	454.25	460.50	465.32
Change (%)	-23.41%	-6.39%	-0.92%	-	+0.06%	+1.43%	+2.49%
Change	-106.29	-29.00	-4.17	-	+0.25	+6.50	+11.32
Level	Intermediate	Intermediate	Major	-	Intermediate	Minor	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	439.33	445.17	448.83	454.67	458.33	464.17	467.83
Camarilla	449.89	450.76	451.63	452.50	453.37	454.24	455.11
Woodie	438.25	444.63	447.75	454.13	457.25	463.63	466.75
Fibonacci	445.17	448.80	451.04	454.67	458.30	460.54	464.17

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	419.33	435.17	443.83	459.67	468.33	484.17	492.83
Camarilla	445.76	448.01	450.25	452.50	454.75	456.99	459.24
Woodie	415.75	433.38	440.25	457.88	464.75	482.38	489.25
Fibonacci	435.17	444.53	450.31	459.67	469.03	474.81	484.17

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	421.08	428.42	439.58	446.92	458.08	465.42	476.58
Camarilla	445.66	447.36	449.05	450.75	452.45	454.14	455.84
Woodie	423.00	429.38	441.50	447.88	460.00	466.38	478.50
Fibonacci	428.42	435.48	439.85	446.92	453.98	458.35	465.42

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):	37.25
MACD (12,26,9):	-1.8500
Directional Movement:	-14.67
AROON (14):	-50.00
DEMA (21):	453.20
Parabolic SAR (0,02-0,02-0,2):	455.77
Elder Ray (13):	-0.93
Super Trend (3,10):	457.06
Zig ZAG (10):	454.00
VORTEX (21):	0.8500
Stochastique (14,3,5):	33.63
TEMA (21):	453.13
Williams %R (14):	-66.67
Chande Momentum Oscillator (20):	-3.25
Repulse (5,40,3):	0.0900
ROCnROLL:	2
TRIX (15,9):	-0.0600
Courbe Coppock:	2.32

MA7:	462.25
MA20:	457.82
MA50:	450.90
MA100:	456.39
MAexp7:	454.13
MAexp20:	455.72
MAexp50:	459.17
MAexp100:	461.54
Price / MA7:	-1.78%
Price / MA20:	-0.83%
Price / MA50:	+0.69%
Price / MA100:	-0.52%
Price / MAexp7:	-0.03%
Price / MAexp20:	-0.38%
Price / MAexp50:	-1.13%
Price / MAexp100:	-1.63%

Quotes : - 10 min delayed data - CBOT Futures

News

The latest news and videos published on CORN at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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