Free Trial

(H2) Bullish Trend Extension

CORN TECHS
  • RES 4: $663.25 - 3.00 proj of the Sep 10 - Oct 4 - 13 price swing
  • RES 3: $650.00 - Round number resistance
  • RES 2: $644.56 - 2.618 proj of the Sep 10 - Oct 4 - 13 price swing
  • RES 1: $642.50 - Intraday high
  • PRICE: $638.25 @ 13:44 GMT Jan 31
  • SUP 1: $611.00 - 20-day EMA
  • SUP 2: $597.00/584.75 - 50-day EMA / Low Jan 3
  • SUP 3: $562.50 - Low Nov 3.0 and a key support
  • SUP 4: $557.50 - Low Nov 9

Corn futures have traded higher again today as the current uptrend extends. The outlook remains bullish. The contract has recently breached the late December high of $617.75. Clearance of this resistance highlighted a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on $644.56, a Fibonacci projection. Key support has been defined at $584.75 Jan 3 low.

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.