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(H1) Tests Key Resistance

CORN TECHS
  • RES 4: $460.00 - High Jul 15, 2019 (cont)
  • RES 3: $447.75 - 0.764 proj of Oct 29 - Nov 30 from Dec 2 low
  • RES 2: $441.50 - High Jul 17, 2019 (cont)
  • RES 1: $440.00 - Intraday high
  • PRICE: $436.00 @ 13:37 GMT Dec 21
  • SUP 1: $425.63 - 20-day EMA
  • SUP 2: $414.25 - Low Dec 2 and key trend support
  • SUP 3: $408.75 - Low Nov 9
  • SUP 4: $402.25 - Low Nov 4

Corn futures have traded higher and tested $440.00 earlier before finding resistance. A clear breach of the $440.00 handle would reinforce the underlying bullish theme and importantly confirm a resumption of the uptrend. This would pave the way for strength towards the $460.00 handle. On the downside, key support has been defined at $414.25 where a break would highlight a top and potential reversal.

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