Grains

There are times when the market will complete a 78.6% retracement to a 78.6% retracement the other way as the Soybeans just did, or it can make a move of one major gann square to another like it did in Corn and sometimes it's the "One Thing" you have to watch out for that happened in Wheat.

Soybeans

(ZSH24) 

78.6% Retracement

March

The March contract just completed a 78.6% to 78.6% retracement following the ONE44 78.6% rule.

We did a post on this on 11/25/23, you can find it here.

The high on 11/15/23 hit 78.6% of the 7/24/23 high and 10/11/23 low at 1397.50, it also hit the 1400.75 major Gann square and the target became 78.6% the other way at 1310.00, this also happened to be another major Gann square. It did fall a few ticks shy of this level, but close enough that we will follow the 78.6% rule again for our upside target of 1389.00. 

This was from our Weekly Grain/Livestock update on 11/23/23,

This week's setback had one close below at 1362.00 and also hit the 1353.25 major Gann square, only to run up to the area of 78.6% at 1397.00 and the 1400.75 major Gann square and swing point for the week.
 

Use 1400.75 as the swing point for the week again.

Below it, we will still watch for this, following the ONE44 78.6% rule, look for 78.6% the other way at 1310.00, this is now a major Gann square as well. It already reacted from 38.2% at 1362.00 and the 1353.25 major Gann square, so there is no short term target.

Corn

(ZCH24) 

Gann square to Gann square

The low on 11/29/23 was 3 ticks shy of the 469.75 major gann square. The rally from it could only get back to the 493.00 major Gann square.

This is from our 11/30/23 update,

This week's low was 3 ticks shy of the 469.75 major Gann square.
 

Use 469.75 as the swing point for the week.

 Above it, the short term target is 23.6% back to the contract high at 521.75, this is also a major Gann square. Any rally that can't get above the 493.00 major Gann square keeps the trend extremely negative and new lows can follow.

Wheat

(ZWZ23) 

The One Thing

 This is from our 11/23/23 update for December 

Use the 565.50 major Gann square as the swing point for the week.

 Below it,  short term there are only major Gann squares for support, the next two are 513.00 and 472.50. One thing to watch for is, it does make a new low and closes back above the 538.75 major Gann square as this can cause a quick rally.

This did indeed happen and the quick rally followed.

From the 11/30/23 update,

Use 565.50 as the swing point for the week again.

 Above it, look for the area of the 625.75 major Gann square and 38.2% back to the 7/25/23 high at 629.00. 

This target was completed this week.

Right now,

In Soybeans, look for 78.6% at 1389.00. In Corn, look for a setback to the previous major Gann square at 469.75. As for what to look for above and below these levels as well as what to look for in Wheat you can become a Premium Member and get all these swing points and targets well ahead of time.

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ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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