The charts are key to this analysis.
Wheat

(ZWH24) 
March

This is the update for our Premium Members for the coming week.

From last week,

After failing to get above 38.2% back to the 7/25/23 high at 656.00, it has had an erratic trade between the 643.25 and 604.75 major Gann squares. It has had a close below 604.75, only to close back above it the next day twice.

Continue to use 604.75 as the swing point.

Below it, look for the area of 78.6% at 579.00 and the 567.25 major Gann square.

 The break below the 604.75 major Gann square took it right down to 78.6% at 579.00, it traded below it today, but closed back above it keeping the level valid for a possible longer term rally.

Use 579.00 as the swing point for the week.
 

Above it, we know following the ONE44 78.6% rule, the short term target is 78.6% of where it just came from and this is 632.75. The longer term target is....
 

Below it, A failure to turn the market higher from here will give us a long term target of 78.6% on the long term chart at 489.00. Before then are....

Here is our latest video on how to use the Fibonacci retracements with the ONE44 rules and guidelines.

A Classic Fibonacci Reversal In The Market And How To Spot It.

Oats

(ZOH24) 

We put the post out below on 12/17/23.

Here is a quick update on it,

The low on 12/13/23 remains intact and our long term target of 458.00 is still the same for the reasons mentioned below.

The past month has been trading between 23.6% (384.00) and 78.6% at 351.00. It is also between the major Gann squares of 380.50 and 340.25.

Use 384.00 as the swing point for the week.

Above it, look for 412.00.

Below it, look for the 340.25 major Gann square.

Oats

12/17/23

March

(ZOH24)

The current down trend could be ending and here's why.

The chart below is KEY to this analysis.

Each of the rally attempts on the move down were stopped by either a 38.2%, or 23.6% Fibonacci retracement, on 9/29/23, 10/30/23, 11/27/23 and 12/5/23.

The last one took it to a slightly lower low, when following the ONE44 Fibonacci rules we know there are two types of bottoms that can cause a quick rally, one is a failure to make a new low at a 78.6% level and the second is only making a slightly lower low after coming off of a 23.6%, or 38.2% retracement.

The low on 12/11/23 made the slightly lower low and held the 340.25 major Gann square and the 61.8% level from the long term chart at 336.50. The move higher from there has rallied 35 cents so far.

Now,

The short term target is the area of 38.2% back to the contract high at 414.00 and the 420.50 major Gann square. The long term target is based on the ONE44 61.8% rule and that is any market that holds a 61.8% retracement can send it 61.8% the other way and this is 460.00, there is also a major Gann square at 458.00 for added resistance.

Taking out 61.8% below at 336.50 can send it to 78.6% of the same move at 293.75, also a major Gann square.

ONE44 Analytics where the analysis is concise and to the point

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.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

Sign up for our Free newsletter here.
 

FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Commission Rule 4.41(b)(1)(I) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Past performance is not necessarily indicative of future results.