Free Trial

(H1) Extends Gains

CORN TECHS
  • RES 4: $572.00 - 50% retracement of the 2012 - 2020 downleg
  • RES 3: $561.63 - 3.382 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 2: $560.00 - Round number resistance
  • RES 1: $555.75 - Intraday high
  • PRICE: $550.25 @ 13:44 GMT Feb 1
  • SUP 1: $511.13 - 20-day EMA
  • SUP 2: $492.50 - Low Jan 25 and key support
  • SUP 3: $487.25 - Jan 7 low
  • SUP 4: $479.50 - Low Jan 4

Corn futures maintain a bullish tone. The contract has today traded above last week's high, extending the recovery from the Jan 25 low. The continued move higher also confirms a resumption of the underlying uptrend with attention on $561.63 next, a Fibonacci projection. On the downside, key support has been defined at 492.50, Jan 25 low. A break would highlight a short-term bearish threat. Initial support is seen at $511.13.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.