Fibonacci, When the Trend Changes and What it needs to do to Keep it. Grains Update
Grains
The charts below are key to this analysis.
All of the Grains had been in a downtrend since 2023. This post will go over when that changed based on the Fibonacci retracement with the ONE44 rules and guidelines. All of these levels were given to our Premium Members before they happened. Here is what to look for now.
Soybeans
The turn in Soybeans happened when it hit 38.2% back to the 9/27/24 high on 1/2/25 and the setback from it could only go 38.2% back to the 12/19/24 low at 989.00 on 1/7/25, this is when the short term trend turned positive. The second positive sign was when it held the new 38.2% back to the low at 1019.00 on 1/16/25.
The latest setback after the high on 2/5/25 has hit 38.2% at 1029.00.
This is the level that needs to be held to keep the short term trend positive.
Above it, look for the long term swing point at 1095.00, this is 38.2% back to the contract high. A failure to hold 1029.00 turns the short term trend negative and the target becomes 78.6% of the same move at 975.00.
Corn
The Corn trend change came on 10/17/24 when it failed to make a new low at a 78.6% retracement at 414.00. This was after it hit a combination of retracements at 444.00 on 10/1/24. On the chart you can see it made a high at a 78.6% retracement on 11/8/24. A low on 11/26/24 at a 61.8% retracement and another lowon 12/19/24 at a 38.2% level keeping the short term trend positive.
The last setback could only get to a 23.6% retracement on 2/3/25 keeping the trend extremely positive, this was also a major Gann square and the swing point for now.
Above it, look for the area of 61.8% back to the contract high at 509.00 and the 512.25 major Gann square. Below it, look for 38.2% back to the 8/26/24 low at 462.00, this is the long term swing point.
Wheat
The change in trend happened on 1/27/25 when it failed to make a new low at the 78.6% retracement. The next positive sign was when it held 38.2% on 2/3/25 turning the short term trend positive after hitting a bigger 38.2% level above at 570.00.
Use the 585.75 major Gann square as the swing point.
Above it, look for the long term swing point at 625.00 (38.2%).
Below it, look for 38.2% back to the 1/10/25 low at 573.00
As we mentioned above, you can become a Premium Member and get all these levels before they happen and what to expect when they turn from them.
You can also watch any of our 45 videos we have done on how to use the Fibonacci retracements with the ONE44 rules and guidelines for Free.
Our latest video goes over more about how the Grains Bottomed.
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