ONE44 Analytics has released a special update on corn futures, focusing on key support and resistance levels. The analysis relies on two primary methods: major Gann squares and Fibonacci retracements. The firm has produced 45 videos explaining how to use Fibonacci retracements within the ONE44 framework, emphasizing that these principles apply across all markets.
For the December corn contract (ZCZ26), the critical level to watch is 502.00, which represents the 38.2% swing point. After briefly closing above this level last week, the price has since fallen back below it, turning the short-term trend negative. Failure to reclaim this level could signal a bearish shift, especially if the price also drops below the long-term 38.2% level at 532.00.
If the price remains below 502.00, the next key support area is around 478.50, which aligns with a major Gann square and the 61.8% retracement to the contract low at 473.00. If this level holds, a rally could target 519.00, based on the ONE44 61.8% rule. However, a breakdown below 473.00 would set sights on 453.00, corresponding to the 78.6% retracement and another major Gann square at 443.50.
ONE44 Analytics emphasizes that their approach is rooted in pure price analysis, combining Fibonacci retracements and Gann squares. They invite traders to explore their premium content or follow their YouTube channel for further insights. The firm also includes a full risk disclosure, noting the substantial risks associated with futures trading.