CORN - 1H - Technical analysis published on 12/16/2020 (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
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 425.25 USD
My targets
433.75 USD (+1.34%)
450.10 USD (+5.16%)
My analysis
The bullish trend is currently very strong on CORN. As long as the price remains above the support at 425.25 USD, you could try to benefit from the boom. The first bullish objective is located at 433.75 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 450.10 USD as an objective. Crossing it would then enable buyers to target 463.00 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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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
CORN rating 428.00 USD. The price has increased by +0.77% since the last closing with the lowest point at 423.75 USD and the highest point at 428.25 USD. The deviation from the price is +1.00% for the low point and -0.06% for the high point.423.75
428.25
428.00
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CORN:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
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 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
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
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 423.25 | 425.25 | 427.50 | 428.00 | 433.75 | 450.10 | 463.00 |
| Change (%) | -1.11% | -0.64% | -0.12% | - | +1.34% | +5.16% | +8.18% |
| Change | -4.75 | -2.75 | -0.50 | - | +5.75 | +22.10 | +35.00 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 417.00 | 418.75 | 421.75 | 423.50 | 426.50 | 428.25 | 431.25 |
| Camarilla | 423.44 | 423.88 | 424.32 | 424.75 | 425.19 | 425.62 | 426.06 |
| Woodie | 417.63 | 419.06 | 422.38 | 423.81 | 427.13 | 428.56 | 431.88 |
| Fibonacci | 418.75 | 420.57 | 421.69 | 423.50 | 425.32 | 426.44 | 428.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 404.42 | 409.83 | 416.67 | 422.08 | 428.92 | 434.33 | 441.17 |
| Camarilla | 420.13 | 421.25 | 422.38 | 423.50 | 424.62 | 425.75 | 426.87 |
| Woodie | 405.13 | 410.19 | 417.38 | 422.44 | 429.63 | 434.69 | 441.88 |
| Fibonacci | 409.83 | 414.51 | 417.40 | 422.08 | 426.76 | 429.65 | 434.33 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 349.50 | 371.25 | 396.00 | 417.75 | 442.50 | 464.25 | 489.00 |
| Camarilla | 407.96 | 412.23 | 416.49 | 420.75 | 425.01 | 429.28 | 433.54 |
| Woodie | 351.00 | 372.00 | 397.50 | 418.50 | 444.00 | 465.00 | 490.50 |
| Fibonacci | 371.25 | 389.01 | 399.99 | 417.75 | 435.51 | 446.49 | 464.25 |
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): | 70.17 | |
| MACD (12,26,9): | 1.0500 | |
| Directional Movement: | 21.00 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 425.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 423.84 | |
| Elder Ray (13): | 2.37 | |
| Super Trend (3,10): | 424.41 | |
| Zig ZAG (10): | 428.25 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 98.67 | |
| TEMA (21): | 427.04 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 5.25 | |
| Repulse (5,40,3): | 0.6200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 2.10 |
| MA7: | 423.57 | |
| MA20: | 425.98 | |
| MA50: | 413.95 | |
| MA100: | 383.29 | |
| MAexp7: | 426.47 | |
| MAexp20: | 424.85 | |
| MAexp50: | 424.00 | |
| MAexp100: | 423.63 | |
| Price / MA7: | +1.05% | |
| Price / MA20: | +0.47% | |
| Price / MA50: | +3.39% | |
| Price / MA100: | +11.66% | |
| Price / MAexp7: | +0.36% | |
| Price / MAexp20: | +0.74% | |
| Price / MAexp50: | +0.94% | |
| Price / MAexp100: | +1.03% |
Quotes :
2020-12-16 09:54:15
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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:
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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
-
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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