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.
On 8/16/22 we put out a Soybean/Corn Special Update to our Premium Members and in it we stated,
The long term target on a break from 1545.00 will be 78.6% of the move up and that is 1356.00. As always, we watch all the retracements on every move to see just how weak, or strong the market is regardless of the longer term target, so any break from 1545.00 that holds 38.2% at 1459.00 would be extremely positive and you can look for a rally that goes for new contract highs. There is also a major Gann square at 1466.75 for added support.
The $1.00 break from 78.6% at 1545.00 closed below 38.2% of the move up at 1459.00. For tomorrow, a close back above 1459.00 and the 1466.75 major Gann square should send this market up to the 1570.75 major Gann square to start.
and we left it with,
For Sept./Dec. Corn and Sept. Soybeans they would be holding 38.2% and that always calls for new highs for the move and in Nov. Soybeans Holding 78.6% should send it 78.6% the other way.
As you can see 8/16/22 was the low close for Soybeans and Corn and they all held, or closed back above their key levels and the markets took off. For September Beans, they have had a $1.30 rally so far and hit the first target of the 1570.75 major Gann square and we continue to look for new contract highs. September Corn has had a 60 cent rally and we expect more to come. It is now above the long term swing point and all three trends have turned positive. We will now watch the retracements below to see just how strong, or weak this rally is. To get this analysis ahead of time for all the Grains you can become a Premium Member. We hope to see you soon!
You can learn more about the Fibonacci retracements with the ONE44 rules and guidelines by watching our Youtube videos, this is our latest.