Main Levels of Corn, Wheat, and Cattle
(ZCZ25) (ZWZ25) (LEZ25)
ONE44 applies two strategies for identifying support and resistance in the market. The first is based on the major Gann square, represented by the yellow horizontal line on the chart. The second is utilizing Fibonacci retracement levels.
Here are some essential guidelines for using Fibonacci retracements according to ONE44’s principles:
This is a brief overview:
- The 38.2% level usually upholds the trend, and new highs or lows are likely to occur.
- The 23.6% level suggests a very strong or weak market condition.
- At the 61.8% level, the market might adjust up to 61.8% of its potential range, which can lead to significant volatility within the trading range.
- A 78.6% level could indicate a peak or a new starting point for a bull market.
We’ve created 45 instructional videos on using Fibonacci retracements aligned with ONE44 rules. These rules can apply across various markets, making the videos quite useful, even if you’re focusing on a different market. This underscores our view that Fibonacci retracements are fundamentally present in all markets. Check out our latest video here.
11/13/25 Corn December Update
Since last week,
This week’s low at 426.50 has held at 23.6% swing point, but there’s been no significant recovery. Unless we see new highs and a tight range this week, our upside and downside targets remain unchanged.
We are reiterating 426.00 as our swing point once again this week.
If the market can maintain 426.00 (23.6%), it will be a strong signal, potentially leading to new highs soon.
This week’s low was 426.50, which continues a strong short-term trend before reaching new highs. The 23.6% retracement to the low from 8/12/25 at 429.00 will be a focal point this week. Both short-term and intermediate trends appear positive as we seek a long-term swing point.
We’ll consider 429.00 our swing point this week.
Above that, the short-term target area is set at the major Gann square around 444.00, with a 61.8% return at the same high of 446.00. The long-term targets extend to 460.75, a major Gann square that reflects a 78.6% retracement to the February 19th and 25th highs, while 464.00 represents a 38.2% back to the contract high and long-term swing point.
Conversely, below that, our short-term target is 38.2% retracing to 429.50, which the market must maintain to support a positive short-term trend. The longer targets are at 61.8% down to 411.00 and the critical Gann square at 406.00.
Wheat December Update
Since last week,
The drop below this week’s pivotal Gann square and swing point of 528.25 was sustained at 519.00, marking a 38.2% decline before a quick new high. The subsequent rally should hit the short-term target range near 554.00 and the 38.2% mark at 557.00, which will be crucial this week. Even if the short-term trend turns positive, we should be cautious and pay attention to long-term retracements, as the market may test lows again near the 38.2% level.
This week, 557.00 will be our swing point.
If we drop below, the short-term target shifts back to 38.2% relative to the October 14, 2016 low at 531.00, along with the significant Gann square at 528.25, which must hold to keep the trend positive.
The setback from the major Gann square at 554.00 and 38.2% at 557.00 has reached the short-term target of 38.2% towards 531.00 on October 14, 2025. It briefly dipped below and then rebounded. This is the critical area that we will monitor throughout the week, and its stability is a favorable sign for a potential recovery from the larger 38.2% level (557.00).
This week, we’ll use 531.00 as our swing point.
Above this, the short-term target returns to a 78.6% retracement back to the high from 11/06/25 at 549.00. We’ll need to see movement past 557.00 to shift the intermediate trend positively, with a long-term swing point anticipated at 598.00, marking a 38.2% return to the contract high. The immediate target is a major Gann square near 581.25.
If not, the trend could pivot negatively, targeting back to 61.8% towards the October 14, 2025 low of 516.25. Long-term targets to watch are 78.6% of this move at 505.50 and the major Gann square at 499.75.
Livestock Update: Cattle December
Since last week,
This week’s high was recorded at 232.97, which failed to surpass the 38.2% level. Hence, the short-term trend remains negative, with a drop of $14.00 towards the long-term swing point at 218.88, a key area for this week. Sustaining this level is vital for maintaining a positive long-term trend and a strong run in the higher range. Keep an eye on all previously mentioned retracements to evaluate the market’s strength or weakness. Should it fail to stabilize at 38.2%, the market might slide to the 61.8% level.
We’ll be using 218.88 as our swing point this week.
If we hold the long-term swing point, we could transition smoothly back to higher levels, targeting the key Gann square at 241.07, representing a 78.6% return to the October 16, 2015 high of 241.90. The short-term goal is a 38.2% return to the same high of 229.40, but if that remains the only upside from the long-term swing point, it does signal potential trouble.
The bulls have had quite an impressive swing from the 38.2% retracement. After breaking out of this level at 232.85, prices ultimately reached the long-term target of 218.88, which is notably a major Gann square. As I mentioned last week, the rally from that point hit 38.2% back towards the contract high of 229.40.
“If this ends up being the only upside from the long-term swing point, that’s certainly a negative sign.” The descent from here again approaches the long-term swing point of 218.88, which we must keep an eye on this week. It could trade below this level since it has rebounded from it before, but closing above will be crucial for trending positively over the long term.
We will stick with 218.88 as our swing point this week.
Above this, the immediate goal returns to a 38.2% retracement back to the high from 10/16/25 at 229.40. If there’s a break to a new low below this level, we must focus on retracing back to this high from 10/16/25. The long-term target extends to a major Gann square at 233.66, with the overall target vicinity being the major Gann square at 241.07, reflecting a 78.6% retracement to the same high at 241.90. If the market fails to exceed the major Gann square at 226.02, that could suggest a negative trend and potentially lead to new lows.
Below this level, the long-term trend would likely turn negative, aiming for a 61.8% return to the contract low of 201.50. There are significant Gann squares to monitor for support, as swing points below are marked at 211.60 and 204.62.
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Our mission is not solely to offer actionable insights but also to clarify the reasons behind market movements based on pure price analysis, influenced by Fibonacci retracements. We view this as the underlying framework in all markets and within the Gann Square methodology.
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