CORN - Daily - Technical analysis published on 05/14/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 469.00 USD
My targets
476.58 USD (+0.54%)
498.00 USD (+5.06%)
My analysis
CORN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 469.00 USD. The next resistance located at 476.58 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 498.00 USD. After this resistance, buyers could then target 514.67 USD.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.3
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This analysis was given by mmepf. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CORN rating is 474.00 USD. The price has increased by +0.32% since the last closing and was traded between 471.50 USD and 475.50 USD over the period. The price is currently at +0.53% from its lowest and -0.32% from its highest.471.50
475.50
474.00
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this CORN chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 438.00 | 449.83 | 469.00 | 474.00 | 498.00 | 514.67 | 539.78 |
| Change (%) | -7.59% | -5.10% | -1.05% | - | +5.06% | +8.58% | +13.88% |
| Change | -36.00 | -24.17 | -5.00 | - | +24.00 | +40.67 | +65.78 |
| Level | Minor | Major | Major | - | Minor | Intermediate | 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 | 456.33 | 460.92 | 466.33 | 470.92 | 476.33 | 480.92 | 486.33 |
| Camarilla | 469.00 | 469.92 | 470.83 | 471.75 | 472.67 | 473.58 | 474.50 |
| Woodie | 456.75 | 461.13 | 466.75 | 471.13 | 476.75 | 481.13 | 486.75 |
| Fibonacci | 460.92 | 464.74 | 467.10 | 470.92 | 474.74 | 477.10 | 480.92 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 440.92 | 447.58 | 458.67 | 465.33 | 476.42 | 483.08 | 494.17 |
| Camarilla | 464.87 | 466.50 | 468.12 | 469.75 | 471.38 | 473.00 | 474.63 |
| Woodie | 443.13 | 448.69 | 460.88 | 466.44 | 478.63 | 484.19 | 496.38 |
| Fibonacci | 447.58 | 454.36 | 458.55 | 465.33 | 472.11 | 476.30 | 483.08 |
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 is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 65.39 | |
| MACD (12,26,9): | 6.1300 | |
| Directional Movement: | 10.76 | |
| AROON (14): | 57.15 | |
| DEMA (21): | 465.40 | |
| Parabolic SAR (0,02-0,02-0,2): | 456.75 | |
| Elder Ray (13): | 11.59 | |
| Super Trend (3,10): | 448.48 | |
| Zig ZAG (10): | 473.75 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 91.57 | |
| TEMA (21): | 470.46 | |
| Williams %R (14): | -5.51 | |
| Chande Momentum Oscillator (20): | 23.75 | |
| Repulse (5,40,3): | 2.1600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1300 | |
| Courbe Coppock: | 8.63 |
| MA7: | 466.61 | |
| MA20: | 455.31 | |
| MA50: | 450.07 | |
| MA100: | 458.19 | |
| MAexp7: | 466.50 | |
| MAexp20: | 458.41 | |
| MAexp50: | 454.67 | |
| MAexp100: | 464.18 | |
| Price / MA7: | +1.58% | |
| Price / MA20: | +4.10% | |
| Price / MA50: | +5.32% | |
| Price / MA100: | +3.45% | |
| Price / MAexp7: | +1.61% | |
| Price / MAexp20: | +3.40% | |
| Price / MAexp50: | +4.25% | |
| Price / MAexp100: | +2.12% |
Quotes :
-
10 min delayed data
-
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
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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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