CORN - 1H - Technical analysis published on 09/10/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 360.23 USD
My targets
362.25 USD (+0.28%)
364.25 USD (+0.83%)
My analysis
CORN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 360.23 USD. The next resistance located at 362.25 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 364.25 USD. After this resistance, buyers could then target 375.50 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CORN price is 361.25 USD. The price has increased by +0.28% since the last closing with the lowest point at 359.50 USD and the highest point at 361.75 USD. The deviation from the price is +0.49% for the low point and -0.14% for the high point.359.50
361.75
361.25
Here is a more detailed summary of the historical variations registered by CORN:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CORN chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Moving Average bearish crossovers : MA20 & MA50
Type : Bearish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
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 : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 355.00 | 359.00 | 360.23 | 361.25 | 362.25 | 364.25 | 375.50 |
| Change (%) | -1.73% | -0.62% | -0.28% | - | +0.28% | +0.83% | +3.94% |
| Change | -6.25 | -2.25 | -1.02 | - | +1.00 | +3.00 | +14.25 |
| Level | Intermediate | Intermediate | Major | - | Minor | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 357.50 | 358.50 | 359.75 | 360.75 | 362.00 | 363.00 | 364.25 |
| Camarilla | 360.38 | 360.59 | 360.79 | 361.00 | 361.21 | 361.41 | 361.62 |
| Woodie | 357.63 | 358.56 | 359.88 | 360.81 | 362.13 | 363.06 | 364.38 |
| Fibonacci | 358.50 | 359.36 | 359.89 | 360.75 | 361.61 | 362.14 | 363.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 337.50 | 344.25 | 350.75 | 357.50 | 364.00 | 370.75 | 377.25 |
| Camarilla | 353.61 | 354.82 | 356.04 | 357.25 | 358.47 | 359.68 | 360.89 |
| Woodie | 337.38 | 344.19 | 350.63 | 357.44 | 363.88 | 370.69 | 377.13 |
| Fibonacci | 344.25 | 349.31 | 352.44 | 357.50 | 362.56 | 365.69 | 370.75 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 286.33 | 303.17 | 330.58 | 347.42 | 374.83 | 391.67 | 419.08 |
| Camarilla | 345.83 | 349.89 | 353.94 | 358.00 | 362.06 | 366.11 | 370.17 |
| Woodie | 291.63 | 305.81 | 335.88 | 350.06 | 380.13 | 394.31 | 424.38 |
| Fibonacci | 303.17 | 320.07 | 330.51 | 347.42 | 364.32 | 374.76 | 391.67 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.99 | |
| MACD (12,26,9): | 0.3400 | |
| Directional Movement: | 2.16 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 361.11 | |
| Parabolic SAR (0,02-0,02-0,2): | 358.14 | |
| Elder Ray (13): | 0.64 | |
| Super Trend (3,10): | 362.94 | |
| Zig ZAG (10): | 361.50 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 86.11 | |
| TEMA (21): | 361.22 | |
| Williams %R (14): | -8.33 | |
| Chande Momentum Oscillator (20): | 0.75 | |
| Repulse (5,40,3): | 0.1000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.62 |
| MA7: | 360.54 | |
| MA20: | 354.24 | |
| MA50: | 342.05 | |
| MA100: | 339.95 | |
| MAexp7: | 361.12 | |
| MAexp20: | 360.66 | |
| MAexp50: | 360.01 | |
| MAexp100: | 359.00 | |
| Price / MA7: | +0.20% | |
| Price / MA20: | +1.98% | |
| Price / MA50: | +5.61% | |
| Price / MA100: | +6.27% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.16% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.63% |
Quotes :
2020-09-10 10:13:53
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15 min delayed data
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CBOT Futures
News
Don"t forget to follow the news on CORN. At the time of publication of this analysis, the latest news was as follows:
-
Farmers are battling corn surplus
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Kellogg's apologizes after a Corn Pops box that some say 'teaches kids racism' ignites fury
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Drought and corruption fuel corn crisis in Kenya | DW English
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How corn mazes saved one family’s farming business
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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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