Soybeans

(ZSN24) 
July

The charts are key to this analysis.

The low on 2/29/24 held the 1151.25 major Gann square and above 61.8% of the contract high and low at 1138.00. While we think this can be the base of the next big move up it did run into the 1231.25 major Gann square and closed right at 23.6% back to the contract high at 1206.00. This could send it back to test the low.

Use 1206.00 as the swing point for the week.

Above it, based on the ONE44 61.8% rule we are looking for 61.8% the other way at 1319.25.

Below it, look for a 78.6% retracement back to the 2/29/24 low at 1161.00.

These charts show natural support and resistance levels based on W.D. Gann's Law of Vibration.

Each level can be used as support and then resistance once taken out and the reverse when starting as resistance. These levels will be good until the end of each contract, they are the yellow horizontal lines.

Corn 

(ZCN24) 
July

The low on 2/26/24 held the 424.00 major Gann square and for reasons based on the May contract (in our Weekly Grain/Livestock Update) we think this can be the low of the next big move up as well. This week's rally hit the 455.25 major Gann square.

Use 455.25 as the swing point for the week.

Above it, look for the next major Gann square at 482.75.

Below it, look for a retest of the 2/26/24 low and the 424.00 major Gann square.

This is our latest video on how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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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