Hogs & Corn Analysis

(HEG25) (ZCH25) 

The charts are key to this analysis.

12/12/24

Lean Hogs
February
From last week,

It never got two consecutively higher closes above 87.44 and it now has two below it. This level remains key for the next week, being a 78.6% level it can cause wide swings and we will be watching the retracements below to see just how weak, or strong the market is. With no new high the Above/Below are the same for this week.
 

Use 87.44 as the swing point for the week again.
 

Below it, staying below 78.6% (87.44) will give us a long term target of 78.6% the other way at 71.55 based on the ONE44 78.6% rule. The short term target area is 38.2% at 80.90 and the 80.20 major Gann square. Any setback that holds the area of 23.6% at 84.25 and the 83.52 major Gann square keeps the trend extremely positive and new highs can quickly follow.

The setback from 78.6% at 87.44 hit 23.6% at 84.25, holding this would be a very strong sign and new highs can quickly follow, this will be the key level for the next week.

Use 84.25 as the swing point for the week.

Above it, look for a new high and then the next major Gann square at 91.47. Any rally that can't get back above 78.6% at 87.44 (also a major Gann square) would be a negative sign and a sharp selloff can happen.

Below it, the short term target area is 38.2% at 80.90 and the 80.20 major Gann square. Longer term staying below 78.6% (87.44) will give us a long term target ….

We have done 44 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets.

Here is the latest.

Corn

March
From last week,

It was a tight range for the week and as we mentioned in the Overview, Corn is in the best technical shape, as it came off from key long term levels above (443.00) and didn't make a new low and held a 78.6% level on 10/17/24. It is now caught between 78.6% (444.00) and 421.00 (78.6%) below. We need to see it get above the 440.50 major Gann square and 444.00 to turn the Intermediate trend positive. Above/Below remain the same for this week.

Use 440.50 as the swing point for the week again.

The high after getting above the 440.50 major Gann square got to 451.25, but didn't take out the 10/2/24 high. It did have a few closes above the long term retracements at 443.00 and this will be the key level for next week. Provided it did take out the 10/2/24 high we would then retrace back to the 8/26/24 low, but until it does we have to retrace back to the 10/17/24 low to look for support.

Use 443.00 as the swing point for the week.

Above it, the short term target is 469.00, this is 38.2% back to the contract high and the long term swing point. The long term target area is 61.8%….

Below it, look for 78.6% back to the 10/17/24 low at 422.00. Any setback that holds 38.2% of the same move at 437.00 would be….

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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.

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