CORN - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
33%
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
0
10
6.1
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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:
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
S3
S2
S1
R1
R2
R3
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 :
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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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