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(H1) Fresh Trend High Print

CORN TECHS
  • RES 4: $464.25 - High Jun 17, 2019 (cont) and a key resistance
  • RES 3: $460.00 - High Jul 15, 2019 (cont)
  • RES 2: $441.50 - High Jul 17, 2019 (cont)
  • RES 1: $439.50 - Intraday high
  • PRICE: $433.75 @ 13:34 GMT Nov 30
  • SUP 1: $420.56/13.50 - Trendline drawn off Aug 12 low / Low Nov 13
  • SUP 2: $408.75 - Low Nov 9
  • SUP 3: $407.75 - 50-day EMA
  • SUP 4: $396.00 - Low Oct 29 and the bear trigger

Corn futures still remain bullish and have today traded to a fresh trend high of $439.50, above the former resistance at $435.75, Nov 11 and 23 high. The break confirms a resumption of the uptrend that started early August and maintains the bullish price structure of higher highs and higher lows. Price action also remains above a trendline support at $420.56, drawn off the Aug 12 low. The trendline represents a key chart point. The focus is on $441.50.

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