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- RES 4: $460.00 - High Jul 15, 2019 (cont)
- RES 3: $441.50 - High Jul 17, 2019 (cont)
- RES 2: $439.50 - High Nov 30 and the bull trigger
- RES 1: $429.25 - High Dec 16
- PRICE: $426.00 @ 12:54 GMT Dec 17
- SUP 1: $414.50/19 - Low Dec 2 / 50-day EMA
- SUP 2: $408.75 - Low Nov 9
- SUP 3: $402.25 - Low Nov 4
- SUP 4: $396.00 - Low Oct 29 and the bear trigger
Corn futures are consolidating and continue to trade below the $439.50 high from Nov 30. The recent break lower from this level resulted in a breach of trendline support drawn off the Aug 12 low and this sets the scene for a deeper pullback. Clearance of $414.50, Dec 2 low would open 408.75, Nov 9 low. For bulls, a break above key resistance at $439.50 would reinstate a bullish focus. Initial resistance is at $429.25, Dec 16 high.