CORN - Daily - Technical analysis published on 10/18/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
22%
67%
11%
My opinion
Bearish under 417.25 USD
My targets
401.72 USD (-0.93%)
386.50 USD (-4.69%)
My analysis
There is a bearish trend on CORN both at the basic level and in the short term. A sale could be considered, so long as the price remains below 417.25 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 401.72 USD. Then the price could move towards 386.50 USD. Then 367.21 USD by extension. Be careful, a return to above the resistance 417.25 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.7
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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
The CORN price is 405.50 USD. On the day, this instrument lost -0.31% with the lowest point at 404.75 USD and the highest point at 409.50 USD. The deviation from the price is +0.19% for the low point and -0.98% for the high point.404.75
409.50
405.50
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CORN chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. The overall trend seems to be showing some signs of weakness, as do the tentative bearish signals from short-term moving averages. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
On the 18 technical indicators analysed, 4 are bullish, 2 are neutral and 12 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 367.21 | 386.50 | 401.72 | 405.50 | 417.25 | 444.50 | 458.12 |
| Change (%) | -9.44% | -4.69% | -0.93% | - | +2.90% | +9.62% | +12.98% |
| Change | -38.29 | -19.00 | -3.78 | - | +11.75 | +39.00 | +52.62 |
| Level | Major | Minor | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 392.83 | 395.92 | 401.33 | 404.42 | 409.83 | 412.92 | 418.33 |
| Camarilla | 404.41 | 405.19 | 405.97 | 406.75 | 407.53 | 408.31 | 409.09 |
| Woodie | 394.00 | 396.50 | 402.50 | 405.00 | 411.00 | 413.50 | 419.50 |
| Fibonacci | 395.92 | 399.16 | 401.17 | 404.42 | 407.66 | 409.67 | 412.92 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 398.58 | 406.92 | 411.33 | 419.67 | 424.08 | 432.42 | 436.83 |
| Camarilla | 412.24 | 413.41 | 414.58 | 415.75 | 416.92 | 418.09 | 419.26 |
| Woodie | 396.63 | 405.94 | 409.38 | 418.69 | 422.13 | 431.44 | 434.88 |
| Fibonacci | 406.92 | 411.79 | 414.80 | 419.67 | 424.54 | 427.55 | 432.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 371.00 | 384.00 | 406.50 | 419.50 | 442.00 | 455.00 | 477.50 |
| Camarilla | 419.24 | 422.49 | 425.75 | 429.00 | 432.25 | 435.51 | 438.76 |
| Woodie | 375.75 | 386.38 | 411.25 | 421.88 | 446.75 | 457.38 | 482.25 |
| Fibonacci | 384.00 | 397.56 | 405.94 | 419.50 | 433.06 | 441.44 | 455.00 |
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): | 42.32 | |
| MACD (12,26,9): | -1.1100 | |
| Directional Movement: | -11.94 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 412.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 421.35 | |
| Elder Ray (13): | -4.89 | |
| Super Trend (3,10): | 424.80 | |
| Zig ZAG (10): | 405.50 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 17.67 | |
| TEMA (21): | 409.79 | |
| Williams %R (14): | -82.27 | |
| Chande Momentum Oscillator (20): | -27.00 | |
| Repulse (5,40,3): | -0.7400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 4.71 |
| MA7: | 408.64 | |
| MA20: | 416.96 | |
| MA50: | 407.92 | |
| MA100: | 418.66 | |
| MAexp7: | 408.92 | |
| MAexp20: | 412.93 | |
| MAexp50: | 413.30 | |
| MAexp100: | 422.85 | |
| Price / MA7: | -0.77% | |
| Price / MA20: | -2.75% | |
| Price / MA50: | -0.59% | |
| Price / MA100: | -3.14% | |
| Price / MAexp7: | -0.84% | |
| Price / MAexp20: | -1.80% | |
| Price / MAexp50: | -1.89% | |
| Price / MAexp100: | -4.10% |
Quotes :
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10 min delayed data
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CBOT Futures
News
The last news published on CORN at the time of the generation of this analysis was 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.
About author
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