- Analytics
- Technical Analysis
CORN Technical Analysis - CORN Trading: 2021-08-19
Corn Technical Analysis Summary
Below 559.7
Sell Stop
Above 566.9
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Buy |
| Fractals | Sell |
| Parabolic SAR | Sell |
Corn Chart Analysis
Corn Technical Analysis
The #C-CORN technical analysis of the price chart in 4-hour timeframe shows #C-CORN,H4 is falling toward the 200-period moving average MA(200), which is tilting downward. We believe the bearish momentum will continue as the price breaches below the lower Donchian boundary at 559.7. A pending order to sell can be placed below that level. The stop loss can be placed above 566.9. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Corn
USDA downgraded nationwide corn crop condition rating for 2021 corn. Will the CORN price retreating halt?
On Monday US Department of Agriculture released its latest Crop Progress Report indicating quality of the corn crop nationwide deteriorated. USDA's weekly report showed that 62% of the corn crop nationally is rated good to excellent, down from 64% last week. Estimates of lower proportion of higher quality corn crop translate into expectations of lower supply of the commodity, which is bullish for the corn price. Another bullish factor for corn was a lower estimate for 2021/22 US corn production projection at 14,775 million bushels due to a lower yield forecast from the National Agricultural Statistics Service’s (NASS) Crop Production report. However, the technical setup is bearish for #C-CORN.
- Get Certificate
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.