Short
#Corn #cbot: Predictive/Forecasting Model Eyes 202'6 #fibonacci
Friends,
A rare coverage of the ag-commodity, but here it is - Corn (P) expected to remain under bearish strain, with a confluence of background technical tools pointing down towards the 244'4 to 202'6 range, against a foreground Predictive/Forecasting Model eyeing bearish targets as low as 202'6.
TECHNICAL TOOLS: Fibonacci, Shark and 5-0 Patterns
An overlay of Fibonacci matrices in Roman numbers with contraction and extension values is shown below:
Fib-I = 0.886 points to a Scott Carney's Shark targe, as follows:
Note that the Shark pattern originates at Point-zero and completes at Point-C, being the acolyte precursor of the 5-0 pattern (see below).
Note also that Point-C of the Shark is Fibonacci-dependent upon TWO values, 0.886 as in the case of this posted chart, but also 1.131, where this tiny extension is often encountered as the inscribed pattern in the same price field, as follows:
Note also, as mentioned above, that the acolyte of the Scott Carney's Shark pattern is the 5-0 patten, which is a reactionary conclusion of the Shark, typically retracing fifty percent of the Shark's last swing, hence the five-zero, or simply 5-0 pattern, as follows:
A rare coverage of the ag-commodity, but here it is - Corn (P) expected to remain under bearish strain, with a confluence of background technical tools pointing down towards the 244'4 to 202'6 range, against a foreground Predictive/Forecasting Model eyeing bearish targets as low as 202'6.
TECHNICAL TOOLS: Fibonacci, Shark and 5-0 Patterns
An overlay of Fibonacci matrices in Roman numbers with contraction and extension values is shown below:
Fib-I = 0.886 points to a Scott Carney's Shark targe, as follows:
Note that the Shark pattern originates at Point-zero and completes at Point-C, being the acolyte precursor of the 5-0 pattern (see below).
Note also that Point-C of the Shark is Fibonacci-dependent upon TWO values, 0.886 as in the case of this posted chart, but also 1.131, where this tiny extension is often encountered as the inscribed pattern in the same price field, as follows:
Note also, as mentioned above, that the acolyte of the Scott Carney's Shark pattern is the 5-0 patten, which is a reactionary conclusion of the Shark, typically retracing fifty percent of the Shark's last swing, hence the five-zero, or simply 5-0 pattern, as follows:
Anmerkung
08 AUG 2016 - Chart Update / tech-Note:Had to rebuild chart from C1! (CBOT) to ZC1! (CBOT) - Not expecting much change in forecast/targets:
David Alcindor, CMT Affiliate #227974
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.