Corn Is Caught Between Major Gann Squares

Corn
March

(ZCH24) 
The chart below is KEY to this analysis.

Corn has spent almost 2 months between the major Gann squares of 493.00 and 469.75.

As you can see on the chart, the low on 7/13/23 held the 493.00 major Gann square and then was stopped on 7/24/23 by the 581.00 major Gann square that was also 61.8% of the 6/21/23 high and 7/13/23 low. We like to use the Fibonacci retracements with the major Gann squares for key areas. On 10/20/23 it hit the 521.75 major Gann square, which was also 23.6% back to the 6/21/23 high. Before that high it traded between the 493.00 major Gann square and the 521.75 major Gann square for the better part of 9 weeks. 

For now, use 493.00 as the swing point.

Above it, look for the 521.75 major Gann square, this is also 23.6% back to the contract high. 

Below it, look for the 469.75 major Gann square again.

We have a long term target below based on the Fibonacci retracements and major Gann squares, you can get these levels by becoming a Premium Member and also for what it will have to take out to turn the long term positive.

This is a quick look at W.D. Gann,

The Chart below has natural support and resistance levels that are based on W.D.Gann's "Law of Vibration".

• Mr Gann viewed stocks as live electrons, atoms, and molecules which hold persistently to their own individuality in response to the fundamental Law of Vibration. Science teaches 'that an original impulse of any kind finally resolves itself into periodic or rhythmical motion, also just as the pendulum returns again in its swing, just as the moon returns in its orbit, just as the advancing year ever brings the rise or spring, so do the properties of the elements periodically recur as the weight of the atoms rises'.  

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. These levels are the yellow horizontal lines.

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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 futures you can become a Premium Member.

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