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CORN
CORN
- USD (-)
- 10 min delayed data - CBOT Futures
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Commodities
Ticker: C
ISIN:

CORN - 1H - Technical analysis published on 05/03/2021 (GMT)

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  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

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Summary of the analysis

Trends
Short term: Bullish
Underlying: Strongly bullish
Technical indicators
17%
22%
61%
My opinion
Bullish above 670.75 USD
My targets
695.00 USD (+1.79%)
716.75 USD (+4.98%)
My analysis
The basic bullish trend is very strong on CORN but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 670.75 USD. Crossing the first resistance at 695.00 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 716.75 USD as an objective. Crossing it would then enable buyers to target 768.25 USD. Caution, a return to below 670.75 USD would be a sign of a consolidation phase in the short-term basic trend. 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 not called into question, despite technical indicators being indecisive.
Force
0
10
4.8

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.

Vincent Launay
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

CORN rating 682.75 USD. The price registered an increase of +1.41% on the session and was traded between 674.00 USD and 698.00 USD over the period. The price is currently at +1.30% from its lowest and -2.18% from its highest.

674.00
698.00
682.75

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Central Gaps

Opening Gap UP

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


A technical analysis in 1H of this CORN chart shows a strongly bullish trend. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:

Central Indicators

Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : 1 hour



The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



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

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 629.50 657.50 670.75 682.75 684.00 768.25 838.75
Change (%) -7.80% -3.70% -1.76% - +0.18% +12.52% +22.85%
Change -53.25 -25.25 -12.00 - +1.25 +85.50 +156.00
Level Intermediate Intermediate Minor - 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
Standard626.58635.92654.58663.92682.58691.92710.58
Camarilla665.55668.12670.68673.25675.82678.38680.95
Woodie631.25638.25659.25666.25687.25694.25715.25
Fibonacci635.92646.61653.22663.92674.61681.22691.92


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard586.00607.75640.50662.25695.00716.75749.50
Camarilla658.26663.26668.25673.25678.25683.24688.24
Woodie591.50610.50646.00665.00700.50719.50755.00
Fibonacci607.75628.57641.43662.25683.07695.93716.75


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard453.08501.42587.33635.67721.58769.92855.83
Camarilla636.33648.64660.94673.25685.56697.86710.17
Woodie471.88510.81606.13645.06740.38779.31874.63
Fibonacci501.42552.70584.38635.67686.95718.63769.92

Numerical data


The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators
Moving averages

RSI (14): 53.77
MACD (12,26,9): 7.7300
Directional Movement: 7.48
AROON (14): -7.14
DEMA (21): 691.70
Parabolic SAR (0,02-0,02-0,2): 698.00
Elder Ray (13): -4.05
Super Trend (3,10): 677.23
Zig ZAG (10): 679.00
VORTEX (21): 1.1300
Stochastique (14,3,5): 42.14
TEMA (21): 692.68
Williams %R (14): -79.17
Chande Momentum Oscillator (20): -10.00
Repulse (5,40,3): -1.8500
ROCnROLL: -1
TRIX (15,9): 0.2100
Courbe Coppock: 3.68
MA7: 656.25
MA20: 609.75
MA50: 572.68
MA100: 535.95
MAexp7: 686.77
MAexp20: 681.04
MAexp50: 668.49
MAexp100: 656.49
Price / MA7: +4.04%
Price / MA20: +11.97%
Price / MA50: +19.22%
Price / MA100: +27.39%
Price / MAexp7: -0.59%
Price / MAexp20: +0.25%
Price / MAexp50: +2.13%
Price / MAexp100: +4.00%

Quotes : - 10 min delayed data - CBOT Futures

News


Don"t forget to follow the news on CORN. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

About author

Londinia
Londinia AI

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