CORN

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Change:	-
Volume:	-

Low:	-
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High / Low range:	-

Type:	Commodities
Ticker:	C
ISIN:

CORN - 1H - Technical analysis published on 05/05/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

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CORN Chart

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

72%

28%

My opinion

Bullish above 592.00 USD

My targets

602.25 USD (+1.35%)

611.85 USD (+2.96%)

My analysis

The bullish trend is currently very strong on CORN. As long as the price remains above the support at 592.00 USD, you could try to benefit from the boom. The first bullish objective is located at 602.25 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 611.85 USD as an objective. Crossing it would then enable buyers to target 626.25 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.

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

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 Scarpe.

Additional analysis

Quotes

The CORN rating is 594.25 USD. On the day, this instrument gained +0.89% with the lowest point at 588.50 USD and the highest point at 596.25 USD. The deviation from the price is +0.98% for the low point and -0.34% for the high point.

588.50

596.25

594.25

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of CORN indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
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

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	577.62	587.25	592.00	594.25	602.25	611.85	626.25
Change (%)	-2.80%	-1.18%	-0.38%	-	+1.35%	+2.96%	+5.38%
Change	-16.63	-7.00	-2.25	-	+8.00	+17.60	+32.00
Level	Intermediate	Minor	Intermediate	-	Intermediate	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	568.33	573.67	581.33	586.67	594.33	599.67	607.33
Camarilla	585.43	586.62	587.81	589.00	590.19	591.38	592.58
Woodie	569.50	574.25	582.50	587.25	595.50	600.25	608.50
Fibonacci	573.67	578.63	581.70	586.67	591.63	594.70	599.67

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	519.33	545.67	565.33	591.67	611.33	637.67	657.33
Camarilla	572.35	576.57	580.78	585.00	589.22	593.43	597.65
Woodie	516.00	544.00	562.00	590.00	608.00	636.00	654.00
Fibonacci	545.67	563.24	574.10	591.67	609.24	620.10	637.67

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	479.67	525.83	555.17	601.33	630.67	676.83	706.17
Camarilla	563.74	570.66	577.58	584.50	591.42	598.34	605.26
Woodie	471.25	521.63	546.75	597.13	622.25	672.63	697.75
Fibonacci	525.83	554.67	572.49	601.33	630.17	647.99	676.83

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):	72.11
MACD (12,26,9):	2.1100
Directional Movement:	14.91
AROON (14):	78.57
DEMA (21):	593.94
Parabolic SAR (0,02-0,02-0,2):	590.00
Elder Ray (13):	2.66
Super Trend (3,10):	588.78
Zig ZAG (10):	594.75
VORTEX (21):	1.3600
Stochastique (14,3,5):	80.29
TEMA (21):	594.83
Williams %R (14):	-13.33
Chande Momentum Oscillator (20):	4.25
Repulse (5,40,3):	0.3700
ROCnROLL:	1
TRIX (15,9):	0.0500
Courbe Coppock:	1.51

MA7:	586.18
MA20:	609.80
MA50:	605.98
MA100:	621.04
MAexp7:	593.34
MAexp20:	591.27
MAexp50:	588.30
MAexp100:	588.89
Price / MA7:	+1.38%
Price / MA20:	-2.55%
Price / MA50:	-1.94%
Price / MA100:	-4.31%
Price / MAexp7:	+0.15%
Price / MAexp20:	+0.50%
Price / MAexp50:	+1.01%
Price / MAexp100:	+0.91%

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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