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AUSSIE BONDS

A Little Steeper Overnight

US TSYS

Belly-Led Weakness On Monday

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

(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.