Following up on the Corn/Wheat update from Thursday. Corn not only hit the 61.8% target at 653.50, but also the 649.50 major Gann square. This completed the 61.8% to 61.8% target and the major Gann square to major Gann square target.
Wheat also hit the target area of 78.6% at 740.00 and the 736.25 major Gann square on Thursday. This was the target area coming off of the 795.50 major Gann square that was also the swing point for the week.
With both of these markets hitting their target areas we will now have new upside levels to look for..
Being this is a weekly update we give all the key levels to watch for the week using Fibonacci retracements and Major Gann squares. We set up scenarios to look for when a level holds, or fails based on these methods, so it is very important to know for yourself how to use them following the ONE44 rules and guidelines. The best way to get a better understanding of these methods is to read all the posts (even if not on Grains) and watch our YouTube videos, as we explain why we think what we think based on the rules and guidelines. It is also important to view all the charts, as they have the key levels marked on them, if there are extended moves.
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