Soybeans

(ZSK24)  (ZSN24) 
July

From last week,

Use 1163.00 as the swing point for the week.

 Above it, the short term target is 78.6% back to the 3/21/24 high at 1225.00. The long term target is 61.8% the other way at 1315.00 based on the ONE44 61.8% rule, there is also a major Gann square at 1319.25 for added resistance. Any rally that can't get above the 1191.00 major Gann square can send it down to the previous one at 1151.25.

4/18/24

The rally from 1163.00 (78.6%) could not get above the previous major Gann square at 1191.00 (1192.75 high) and the break from it took it to the 1151.25 major Gann square.
 

Use 1151.25 as the swing point for the week.
 

Above it, provided it can get right back above 1163.00 (78.6%) the short term target is 78.6% back to the 3/21/24 high at 1222.00.......
Below it, on a failure to turn up from the 1151.25 major Gann square we will still have to watch 61.8% at 1138.00,.....

Corn

(ZCN24) (ZCK24) 

July

From last week,

May

We still believe that the low put in on 2/26/24 at 78.6% is a level that can send this market on another Bull run, but until it can take out the 442.75 major Gann square it could retest the low and 78.6%, which would be another reason to rally.

July

July is a little weaker than May and has taken out the 3/28/24 low, we will now use 38.2% back to the 3/28/24 high as the swing point.

Use 445.00 as the swing point for the week.

Above it, the short term target is the 455.25 major Gann square, this is also 78.6% back to the 3/28/24 high......

Below it,  the short term target is 78.6% back to the 2/26/24 low at 430.00. This area would be another reason for a good rally based on the ONE44 78.6% rule......

Wheat

(ZWK24) (ZWN24) 
May

From last week,
 

The setback from the 567.00 major Gann square held the previous major Gann square at 543.25, as the sideways trade continued. We are still waiting for it to give us some reason to look for a rally other than hitting the long term target of 486.00. One of those signs would be holding 78.6% on a test of the current low.

 Use 567.00 as the swing point for the week again.

 Below it, the short term target is 78.6% back to the 3/11/24 low at 535.00. Holding this level would be a good sign and possible start of the next leg up based on the ONE44 78.6% rule. 

 4/18/24

Today's low hit 535.00 (78.6%) we will see if this level can hold and be the start of the next leg up based on the ONE44 78.6% rule, or just go 78.6% back to the 4/5/24 high.

Use 535.00 as the swing point for the week.

Above it, the short term target is 78.6% back to the 4/5/54 high at 567.00, this is also a major Gann square, when and if it .....

Below it, a failure to turn higher from 535.00 will give us a long term target of 78.6% on the long term chart at 486.00, before then......

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