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(H2) Heading North

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 - High Jan 31
  • PRICE: $638.75 @ 13:44 GMT Feb 2
  • SUP 1: $614.81 - 20-day EMA
  • SUP 2: $599.81/584.75 - 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 remain in an uptrend. The contract traded higher Monday as the current uptrend extends. Price has recently cleared the late December high of $617.75. The break has 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.

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