MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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CORN TECHS: (Z1) Clears Resistance

CORN TECHS
  • RES 4: $628.25 - High Jun 10
  • RES 3: $611.25 - High Jul 1
  • RES 2: $594.25 - High Aug 12 and key resistance
  • RES 1: $563.25 - High Oct 27
  • PRICE: $555.50 13:44 BST Oct 28
  • SUP 1: $535.63/497.50 - 50-day EMA / Low Sep 10 and bear trigger
  • SUP 2: $494.00 - 76.4% retracement of the Mar 30 - May 7 rally
  • SUP 3: $481.50 - Low Apr 7
  • SUP 4: $449.50 - Low Mar 30

Corn futures rallied higher yesterday and in the process cleared resistance at $548.50, Sep 30 high. This has removed a recent bearish focus and instead, the break higher suggests scope for a stronger short-term bounce towards resistance at $594.25, Aug 12 high. On the downside, a move back below the 50-day EMA at $535.63 would threaten the developing bullish theme and refocus attention on $497.50, the Sep 10 low.

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