Trial now
USDCAD TECHS

Circling Major Support

US TSYS SUMMARY

Stocks and Rates Near Session Highs Late

AUDUSD TECHS

Tepid Bounce

LATAM

OUTLOOK: WEEK AHEAD

US EURODLR OPTIONS

Nice Mark for Early Put Buyer

(H1) Corrective Cycle

CORN TECHS
  • RES 4: $555.25 - 3.236 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 3: $545.00 - 3.00 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 2: $541.50 - High Jan 13 and the bull trigger
  • RES 1: $531.50 - High Jan 21
  • PRICE: $500.34 @ 14:30 GMT Jan 25
  • SUP 1: $492.50 - Intraday low
  • SUP 2: $487.25 - Jan 7 low
  • SUP 3: $479.50 - Low Jan 4
  • SUP 4: $463.56 - 50-day EMA

Corn futures traded sharply lower Friday extending the week's sell-off and this has confirmed a top in the trend for now. Furthermore, the pullback also indicates the start of a correction. The trend has been in overbought territory for some time and the pullback is allowing this condition to unwind. An extension lower would open $487.25, Jan 7 low next. On the upside, initial firm resistance is seen at $531.25, Jan 21 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com