Corn Futures CBOT:​ZC1!

Lower for wave ((3))

CORN DAILY CHART WAVE ANALYSIS

Key Level: 387’6 I’m working on the idea of triangle wave (B) complete and wave (C) is developing into 5 wave motive structure. By using Elliot rule of “WAVE 2 never retrace 100% of wave 1”, we can establish an invalidation level that served as our key level of this analysis. If wave (B) complete, corn has no business to go above 387’8 level and I’m looking...

Working on the idea of wave 5 diagonal triangle in corn weekly chart

Watching for weakness at the value area high at 383'2 with a target at the POC

Corn could go DOWN...

We are watching a bearish movement based on the drive of the time target. Next could be a probable uptrend.

After a downtrend, we are watching a probable bullish movement based on the drive of the basic time target.

Corn is coiling above the 1/1 Gann fan. Ready for the next move up. Probability H.

Corn has been practically neutral on 1W (RSI = 54.490, ADX = 23.173), trading sideways since mid July. With the price currently testing the inner 374'2 Resistance, we consider it to be high enough for a short towards the 0.618 1D Fibonacci = 356'6.

IN ATTESA DEL..... REPORT DEL 11/10/2018

Head and shoulders break to the downside. Has not been to these levels since 2016.

Corn futures ZC1have touched the 50% Fibonacci level on three occasions and failed each time. Looking for a reversal to the uptrend

The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.

On Monday 366 would turn up your 2 day swing chart and will also break the daily swing highs

Bullish shark with bullish divergence. Waiting to see how price reacts to the reversal zone (purple box).

After breaking the 1D Channel Up (Highs/Lows = -12.9821, MACD = -1.170), Corn just bounced off the first important support at 380. We will either see a strong rebound here (long with tight SL, TP = 392.40) or if 379 breaks, it will look for the 372.20 support (TP = 374).

just for pondering